YES Bank pares fundraising target to Rs 10,000 cr; junks Erwin Braich offer

This is a remarkable scale down by the bank, which urgently needs capital, but has failed to get so

YES Bank on Friday scaled down its fundraising plan substantially to Rs 10,000 crore, from nearly to $2 billion approved by the board in November, as it continued with its struggle to get investors. 

The bank notified the exchanges that its board approved raising of funds up to Rs 10,000 crore, in one or more tranches, through Qualified Institutions Placement (QIP), Global Depository Receipts (GDRs), American Depository Receipts (ADRs), Foreign Currency Convertible Bonds (FCCBs), or any other methods on private placement basis. 

The bank will hold an extraordinary general meeting for this purpose.  The bank also said it received an