Category Portal
    • Home
    • World News
    • Hollywood
    • Cryptocurrency
    • Business
    • Economy
    • Finance
    • Sports
    • Digital Marketing
    • DMCA Policy
    • Contact Us
    Category Portal
    Home»Finance»Will exit reconstruction scheme after lock-in period ends: YES Bank
    Finance

    Will exit reconstruction scheme after lock-in period ends: YES Bank

    By adminSeptember 23, 2022Updated:September 24, 2022No Comments0 Views
    Facebook Twitter Pinterest LinkedIn WhatsApp Reddit Tumblr Email
    1627038610 2917
    Share
    Facebook Twitter LinkedIn Pinterest Email Telegram WhatsApp

    YES Bank on Friday claimed that the Reserve Bank of India (RBI) would permit the lender to exit the reconstruction scheme it entered in March 2020 after the tip of a three-year lock-in period for individuals who invested in its share.

    The completion of the lock-in period of three years considerations 75 per cent of YES Bank’s shares and doesn’t impression those that held lower than 100 shares, the non-public lender knowledgeable exchanges.

    “In this regard, it might be famous that the financial institution has acquired confirmations from depositaries, viz Central Depository Services (India) Limited (CDSL) and National Securities Depository Limited (NSDL), that the locked-in shares would get launched on March 13 , 2023, after the lock-in period, ie March 12, 2023, by way of the automated system of depositories with none additional motion wanted from the financial institution,” it mentioned in a press release.

    The RBI has set three parameters for YES Bank earlier than it might go away the reconstruction scheme. The first pre-requisite is the completion of the aforementioned lock-in period. The second parameter is the submission of a compliance certificates by the lender to the RBI, stating that each one the situations of the scheme have been fulfilled; the third is the RBI confirming that each one situations have been met.

    In June 2022, the board of YES Bank beneficial the formation of an alternate board on the again of the non-public sector financial institution attaining a turnaround and attaining vital progress after the implementation of the reconstruction scheme.

    In March 2020, the RBI and the federal government framed a restructuring scheme to salvage the troubled non-public sector financial institution, which was as soon as promoted and run by Rana Kapoor. Commercial banks led by State Bank of India had infused Rs 10,000 crore beneath the scheme.

    In FY22, the financial institution witnessed a full-year revenue at Rs 1,066 crore, after two successive years of heavy losses in FY20 and FY21. The lender practically doubled the deposit ebook from about Rs 1.05 trillion in Mar 2020 to Rs 1.97 trillion in March 2022.

    Recently, YES Bank mentioned that its board has authorised the sale of burdened loans price Rs 48,000 crore to JC Flowers Asset Reconstruction, after receiving no problem to the bid made by the non-public fairness firm.

    Following the switch of gross non-performing property (gross NPAs) — the majority of which emanated from company loans — YES Bank’s gross NPA ratio would dip beneath 2 per cent, Prashant Kumar, YES Bank’s MD & CEO, mentioned in July.

    In the primary quarter of the present monetary yr, YES Bank reported an enchancment in its asset high quality, with gross NPAs falling to 13.45 per cent of gross advances as on June 30, 2022, from 15.60 per cent on the finish of June 2021. Net NPAs or unhealthy loans, too, got here right down to 4.17 per cent, from 5.78 per cent.

    Original Content

    Bank reconstruction scheme National Securities Depository Limited non-performing assets private lender rbi reconstruction scheme Reserve Bank of India Yes Bank YES bank reconstruction scheme
    Share. Facebook Twitter Pinterest LinkedIn Tumblr Telegram Email
    Previous ArticleNoiseFit Core 2 Buzz smartwatch with AI voice assistant launched: Details inside – Times of India
    Next Article Everything Included In Pokémon TCG’s Charizard Ultra Premium Collection

    Related Posts

    Banks seek review of SC order tagging statutory creditors as ‘Secured’ ones

    February 3, 2023

    NatWest boss U-turns on refusal to attend parliamentary hearing

    February 3, 2023

    Insurers may seek tweak in plan to end sops

    February 3, 2023

    Leave A Reply Cancel Reply

    Advertisement
    Categories
    • Android
    • Apps
    • Bollywood
    • Business
    • Cryptocurrency
    • Digital Marketing
    • Economy
    • Entertainment
    • Finance
    • Gaming
    • Health
    • Hollywood
    • Life Style
    • Movies
    • Posts
    • Science & Environment
    • South News
    • Sports
    • Tech & Gadgets
    • Top Stories
    • US Movies
    • Web Series
    • World News
    Recent Comments
    • rama on They Thought the Skulls Were Murder Victims. They Were Off by Centuries.
    • rama on They Thought the Skulls Were Murder Victims. They Were Off by Centuries.
    • ind on Samsung will bring Camera Assistant app to more Galaxy smartphones – Times of India
    • Kitchenhutt Spices - indian red chili powder on Review | Galito’s in Gaithersburg may have you wondering, ‘Nando’s who?’
    • Patrick Roach on “Long COVID” federal response ramps up, with an NIH trial of potential treatments starting this fall
    Advertisement
    Latest Posts

    Disha Patani Is A Sight to Behold As She Poses in Stunning White Lehenga; See Pics and Videos

    February 3, 2023

    Vanessa Hudgens & Cole Tucker Reportedly Engaged After He Popped The Question Last Year

    February 3, 2023

    Banks seek review of SC order tagging statutory creditors as ‘Secured’ ones

    February 3, 2023

    Custody ruling that breastfeeding mother ‘use bottle’ sparks debate

    February 3, 2023

    Britain’s health care system overwhelmed due to aging population, stagnant investment, COVID-19

    February 3, 2023
    Advertisement
    • Home
    • About Us
    • Disclaimer
    • Privacy Policy
    • Terms of Use
    • Contact Us
    • DMCA Policy
    © 2023 Category Portal | All Rights Reserved

    Type above and press Enter to search. Press Esc to cancel.