Is there any lock in period for Yes Bank?
As per the “YES Bank Limited Reconstruction Scheme, 2020”, which has come into force from March 13, 2020, there will be a lock-in period of three years from the commencement of this Scheme to the extent of 75 per cent in respect of –– shares held by existing shareholders; and shares allotted to the investors under this ….
What is full form of Yes Bank?
YES BANK stands for Youth Enterprise Scheme Bank. The founder, CEO, and managing director of the Yes Bank is Rana Kapoor.
What is the current situation of Yes Bank?
The bank made a loss of Rs 6,547 crore in 2017-18. Its net profit was Rs 862.23 crore in 2018-19. The current year 2019-20 is looking better with over Rs 10,000 crore worth profit till December 2019 but the YES Bank rescue will surely put some burden.
Is it safe to invest in Yes Bank?
Given the size of the bank, the government stepped in rather quickly and it is unlikely that a bank of the size of Yes Bank would be allowed to collapse. This makes the deposits of Yes Bank safe at least for a tenure of 1-2 years.
Who is the owner of Yes Bank?
Rana KapoorRana Kapoor, Founder, Managing Director & CEO, YES BANK received the ‘Entrepreneurial Banker of the Decade’ award from the Bombay Management Association today. The award was presented by Mr. K.N. Vaidyanathan, Executive Director, Securities and Exchange Board of India (SEBI) at the 14th Annual Convention in Mumbai.
Who will takeover Yes Bank?
Collectively, LIC and SBI will acquire the 49% stake for Rs 490 crore, according to a report in the Economic Times. The stake acquisition has been approved by the RBI to rescue Yes Bank. The SBI board had late on Thursday also given the (SBI) bank an “in-principle” approval to invest in the capital-starved Yes Bank.
Can SBI invest in Yes Bank?
India’s largest lender State Bank of India on Wednesday said its board has approved an investment of up to Rs 1,760 crore in the follow-on public offering (FPO) of YES Bank. … SBI is the largest holder in YES Bank with a 48.21% stake, followed by ICICI Bank at 7.95% and Axis Bank at 4.78%.
Is yes bank safe in 2020?
Deposits With Yes Bank Are Safe: RBI Governor. Days ahead of a moratorium imposed on Yes Bank Ltd. is set to be lifted, the Reserve Bank of India governor assured depositors that their money is safe and that the regulator stands ready to provide liquidity if needed.
Can Yes bank fail?
The government has approved a plan for State Bank of India to lead a consortium that will buy stake in YES Bank, reported Bloomberg, quoting sources.
Will Yes Bank be saved?
SBI is one of the biggest investors in Yes Bank after the lender was restructured by the RBI earlier this year. … Earlier this year, Yes Bank was saved from going bust earlier this year when RBI roped in SBI and 7 other financial institutions to save the struggling lender.