Page 11 - Yes Bank

Subhash Chandra moves to get family's stake in Dish TV back from JC Flowers

With JC Flowers ARC's 24.19% stake in the company, Chandra's total holding in the satellite TV operator will rise to 28.2%, if the transaction goes forth

DHFL-YES Bank case: Wadhawan denied bail; his delay for police escort noted

Dheeraj Wadhawan, one of the promoters of DHFL currently in jail in a case pertaining to alleged fraud connected to Yes Bank, was denied medical bail by a special court which observed he had not paid Rs 24 lakh for police escort provided to him during his long hospitalisation. In his order of July 14, the details of which were made available on Monday, the special CBI judge MG Deshpande noted that the police had to knock the doors of the court to recover this amount. The judge said the illness for which medical bail has been sought doesn't require any long hospitalization or interim bail, adding that the gravity and magnitude of the alleged offence committed by the accused cannot be ignored. In his plea, Wadhwan sought medical bail on the grounds that he has serious heart related medical issues, citing he had suffered a massive heart attack at the age of 38 in January, 2018, which required emergency angioplasty in Switzerland. The court, however, said medical science was more advan

Barclays and Yes Bank raise India's inflation forecast as prices jump

Surging prices of vegetables and pulses pushed up inflation to a three-month high of 4.81% last month, ending four months of moderation

Fresh legal battle brews between Dish TV and lenders on board recast

Lenders, who own a majority stake in the company, have called for removal of the existing two-member board of S Aggarwal and Rashmi Aggarwal

Yes Bank's loan book grows 7.5% to Rs 2 trn in quarter ending June

It deposits grew 13.5 per cent YoY to Rs 2.19 trillion at end of June 2023

FEMA case: Reliance ADA Group chairman Anil Ambani appears before ED

Reliance ADA Group Chairman Anil Ambani on Monday appeared before the Enforcement Directorate (ED) here in connection with an investigation linked to the alleged contravention of the foreign exchange law, official sources said. Ambani, 64, deposed at the office of the federal agency in the Ballard Estate area to record his statement in the case, registered under various sections of the Foreign Exchange Management Act (FEMA), they said. Further details of the case in which Ambani was summoned were not immediately known. The industrialist had appeared before the ED in 2020 in a money laundering case against Yes Bank promoter Rana Kapoor and others.

YES Bank-DHFL scam: Court says nation is victim, denies bail to realtor

A special CBI court here has denied bail to Pune-based builder Avinash Bhosale in connection with a case pertaining to the Yes Bank-DHFL scam, saying the nation is the victim of cheating and criminal conspiracy. The court said that prima facie Bhosale's involvement in this serious economic offence is deep-rooted. While Special Judge M G Deshpande denied bail to Bhosale on June 23, the detailed order was available on Tuesday. The court said that Yes Bank's money, which is basically public money and the wealth of the nation, was usurped. The bank was cheated by wisely hatching criminal conspiracy by accused persons. Money of Yes Bank is the wealth of the Nation. Nation is victim of this offence of cheating and criminal conspiracy, the court said, declining to give relief to Bhosale. The special judge said that the way the fraud was committed, granting bail to the applicant (Bhosale) is not safe and there is every possibility of spoiling the case by tampering with the evidence and ..

Moody's affirms Yes Bank's ratings, financial performance to remain stable

Moody's Investors Service on Friday said it has affirmed Yes Bank's ratings on the back of expectation that its financial performance will remain stable over the next 12-18 months. The long-term foreign and local currency bank deposit ratings and foreign currency issuer rating has been affirmed at 'Ba3', with a stable outlook. "The rating affirmation and stable outlook is driven by the improvement in India's macro profile to 'moderate+' from 'moderate', along with Moody's expectation that Yes Bank's financial performance will remain stable over the next 12-18 months," Moody's said in a statement. The agency expects Yes Bank's asset quality to be stable as the bulk of its legacy problem assets have been resolved, while India's good economic momentum will support the performance of its newly originated loans. The bank's gross non-performing loan ratio declined to 2.2 per cent at the end of March 2023 from 13.9 per cent a year earlier, following its sale of non-performing loans (NPL)

RBI rejects Akash Suri's appointment as CEO of JC Flowers Yes Bank: Report

In a major setback to Yes Bank, sources close to developments have revealed that the Reserve Bank of India (RBI) has rejected the appointment of Akash Suri as the CEO of the JC Flowers Yes Bank ARC

YES Bank aims to expand margins by 100 bps in next 3 years, says MD

"We would aim to improve the overall ratio of current account savings account (CASA) deposits further. There is a huge opportunity available there," Prashant Kumar said

YES Bank aims to expand margins by 100 bps in next 3 years, says MD

Yes Bank is targeting a credit growth of 15% to 20% for fiscal 2024

India to have 87% EVs by 2047 with policy boost: FICCI-YES Bank report

For cost alleviation and investment drive, the report suggests demand incentives till significant xEV penetration and emissions-based taxation, while also creating credit pathways for financing xEVs

CBI files case against IL&FS Transportation Network for defrauding 19 banks

The fraud done by IL&FS Transportation Network Ltd (ITNL) and its directors came to light in 2018 after the National Company Law Tribunal (NCLT) appointed a new board of directors

YES Bank brand makeover: Spending on advertising activities to surge 30%

The bank launched a tweak in its logo

Yes Bank plans to increase advertisement spend by 30% in FY24: Official

Yes Bank is planning to up the ante on marketing and will be spending 30 per cent higher on advertising activities in FY24, a senior official said on Tuesday. Without sharing the amount it will be spending, chief marketing officer Nipun Kaushal said the bank was tactical in its spending in the last two years as it got the house in order after being bailed out by peers. In FY24, its advertising spends will be 30 per cent higher than in the previous year, Kaushal told reporters here on the sidelines of a bank event, adding that the exact spends can vary because the rates can differ at the time of booking properties. The bank's retail franchise has achieved a critical scale and it is at an inflection point now, its executive director Rajan Pental said, adding that the profitability will go higher from here. Kaushal said the marketing campaign which it is embarking on from June 20 and which will last till end of the fiscal year with a long tail of digital advertising efforts, is design

JC Flowers ARC makes claim on Subhash Chandra's no-compete fees

ARC says no-compete fees received from Sony should be used to repay local debt

DHFL money laundering case: HC denies bail to Yes Bank founder Rana Kapoor

The Bombay High Court on Thursday refused to grant bail to Yes Bank founder Rana Kapoor in connection with the DHFL money laundering case, noting that he was one of main accused in the case and he faced a "serious charge" of having laundered public money. A single bench of Justice P D Naik in its order said Kapoor misused his official position to gain undue financial benefit for himself, his family members and associates. "He (Kapoor) is involved in bribery, corruption and money laundering activities. The proceeds of crime (POC) involved in this case are to the extent of Rs 5,333 crore. It is alleged that applicant had siphoned off huge amounts of POC out of India through his family group owned/controlled companies," the HC said. It added that around Rs 378 crore have been invested overseas and investigation in this is still on. The bench said it cannot ignore Kapoor's role in the crime, the magnitude and seriousness of the crime. "The allegations against the applicant is that the

Reliance General to accept e-Rupee through Yes Bank for premium payments

Reliance General Insurance on Wednesday said it has become a forerunner general insurance company in the country to accept the Reserve Bank of India's (RBI) Central Bank Digital Currency e-Rupee for premium payments. The company has tied up with Yes Bank to facilitate the collection of premiums in the digital mode using the bank's eRupee platform, a statement said. Customers who have an active e-wallet with any bank can scan Reliance General Insurance's eRupee QR code to make immediate payment, it said. With this pioneering launch, the company is presenting its customers with an easy, safe, instant and green payment solution, and taking its promise of providing excellent customer experience to the next level. eRupee is a digital token that is equivalent to a banknote i.e. legal tender, and is a sovereign currency backed by the RBI, it noted. Being digital, eRupee removes all the issues of handling physical cash and offers the same anonymity as a banknote, it said. Moreover, it sa

YES Bank eyes MFI acquisition for rural expansion, plans 150 new branches

Several banks have taken the MFI acquisition route as such transactions give them an opportunity to scale up operations in the rural and semi-urban markets

Banks, Wipro lift indices in fag-end; Sensex up 401 pts, Nifty tops 17,700

CLOSING BELL: The gains in benchmark indices were led by HDFC Life (up 6.4 per cent), Wipro, ICICI Bank, Titan, Axis Bank, SBI, Hero MotoCorp, Grasim, and Adani Ports