INSUBCONTINENT EXCLUSIVE:
Moody's on Thursday maintained the outlook on Yes Bank's ratings as stable.Shares of private sector lender Yes Bank tumbled as much as 34.03
per cent in early trade today
At 10:34 am, the stock was trading at Rs 256.15 on the BSE, down 19.58 percent or 562.35 points lower from the previous close
Shares of Yes Bank Ltd were on track for their worst day today since market debut after the Reserve Bank of India (RBI) asked its managing
director and CEO Rana Kapoor to step down after an extended term till January 31, 2019, reported news agency Reuters.Yes Bank informed on
Wednesday that the RBI had curtailed the term of Rana Kapoor, till January 31, 2019, and asked the board to find a replacement
The 61-year-old Kapoor owns over 10 per cent in the bank
extension to Kapoor and sought the central bank's go-ahead for the same
The bank had been found to have under reported non-performing assets (NPAs) by over Rs 10,000 crore for two consecutive years, reported
Press Trust of India (PTI).Rating agency Moody's on Thursday maintained the outlook on Yes Bank's ratings as stable
Moody's said Yes Bank will continue to outpace the industry in loan book growth, but added that while the capital buffers are adequate for
now, it will have to raise capital from the market soon.Meanwhile, benchmark equity indices opened on a positive note on Friday
At 10:50 am, the SP BSE Sensex climbed 279.11 points or 0.75 per cent to trade at 37,400.33
The broader Nifty50 was trading at 11,319.65, up 85.30 points or 0.76 per cent
