Page 16 - Yes Bank

Stocks to Watch: Central Bank, ITI, M&M, Yes Bank, SpiceJet, PEL, GPT Infra

Stocks to Watch Today: Central Bank of India has removed from the RBI's PCA framework after 5 years; SpiceJet places 80 pilots on leave without pay for three months.

RBI approves appointment of R Gandhi as non-executive chairman of Yes Bank

The Reserve Bank has approved the appointment of its former deputy governor R Gandhi as non-executive part time chairman of Yes Bank for three years, a regulatory filing said. Gandhi's appointment comes into effect from September 20, 2022. Yes Bank, in its regulatory filing on Tuesday, said the appointment follows recommendation of its board of directors to the RBI. The Reserve Bank vide its letter dated September 20, 2022 has approved the appointment of Rama Subramaniam Gandhi as non-executive (part time) chairman of the bank for a period of three years effective from Tuesday, Yes Bank said. A seasoned central banker with 37 years of experience, Gandhi was a deputy governor of the Reserve Bank of India (RBI) for three years from 2014 to 2017. He also had a three-year secondment to the Securities and Exchange Board of India (SEBI) and also held the charge of Director of the Institute for Development and Research in Banking Technology (IDRBT), Hyderabad. Gandhi also worked in vari

Yes Bank approves sale of Rs 48,000 cr stressed loans to JC Flowers ARC

Former RBI Deputy Governor R Gandhi appointed as Yes Bank's non-executive chairman

Yes Bank to sell stressed assets worth Rs 48k cr to JC Flowers ARC

Yes Bank on Tuesday said its board has approved the sale of stressed assets worth around Rs 48,000 crore to JC Flowers ARC, which has turned out to be the sole bidder for the portfolio. The US-based asset reconstruction company (ARC) had in July this year emerged as the base bidder for the proposed sale of the identified stressed loan book of Yes Bank aggregating up to Rs 48,000 crore. As per Reserve Bank of India (RBI) guidelines on transparent bidding process, the private sector lender had conducted a Swiss challenge for inviting challenger bids. The Swiss challenge process has now concluded and the bank has not received any challenger bids to the base bid, Yes Bank said in a regulatory filing. "The board of directors of the bank, at their meeting held on September 20, 2022, has approved the declaration of JC Flowers ARC as the winner of the Swiss Challenge process," the bank said. As per the binding term sheet between the bank, JCF ARC LLC and JC Flowers for sale of the identif

Stocks to Watch: IRCTC, McLeod Russel, Sugar, Adani Ports, Gail, Dish TV

Stocks to Watch Today: Oil related shares are likely to be in focus on Tuesday as the oil ministry sought a review of the windfall profit tax on domestically produced crude oil.

CBI files charge sheet against Rana Kapoor, Gautam Thapar in Yes Bank fraud

The CBI has filed a charge sheet against former Chief Executive and Managing Director of Yes Bank Rana Kapoor as well as Avantha Group promoter Gautam Thapar in the Rs 466.51 crore alleged fraud in the bank, officials said. Kapoor was not named a suspect in the FIR registered on June 2 last year in the case. His role, however, surfaced during the investigation, they said. In its charge sheet filed before the special CBI court in Mumbai, the probe agency has also named Thapar in the scam. The FIR was registered against Thapar, directors of Oyster Buildwell Pvt Ltd (OBPL) -- Raghubir Kumar Sharma, Rajendra Kumar Mangal and Tapsi Mahajan --, unidentified executives of Avantha Realty Pvt Ltd and Jhabua Power Ltd, on a complaint from Yes Bank CVO Ashish Vinod Joshi. Kapoor is also co-accused with Thapar in another case related to alleged diversion of public money in Yes Bank in exchange for a high-end property at an upscale neighbourhood of Delhi, they added.

Jawahar Goel quits as Dish TV director, will step down at Sept 26 AGM

Yes Bank, which holds 25% in Dish TV, has been pushing for a board revamp, including removal of Goel, Narang and others

CSB Bank appoints Pralay Mondal as MD & CEO with effect from Sep 15

Mondal was the deputy managing director of the bank since February 17, 2022 and was subsequently appointed as interim MD & CEO with effect from April 1, 2022

YES Bank to sell all its NPAs to JC Flowers ARC by December: Report

YES Bank's gross NPAs stood at 13.4 per cent at the end of June. The gross figures stood at Rs 27,747 crore. In June 2021, the NPAs stood at 15.6 per cent

HDFC Bank issues e-BG, AEBC appoints Sanjay Khanna as CEO, and more

This is a transformational change, and the Bank will migrate to eBG to benefit all its customers, the bank said

Two years after YES Bank fiasco, AT-1 bonds rekindle investor interest

HNI, insurance demand, better bank performance driving interest in instrument

YES Bank NPA sale challenge: Arcil-Cerberus backs out of the race

In July, YES Bank signed a binding term sheet with JCF ARC LLC and JC Flowers ARC for a strategic partnership for the sale of identified stressed loans of the bank

YES Bank to approve JC Flowers as buyer for $6-bn stressed loan portfolio

Yes Bank is likely to approve the transfer of stressed assets worth $6 billion to private equity firm JC Flowers at its next board meeting

YES Bank soars 35% in 3 months; stock at 20-month high on improved outlook

In August, CRISIL upgraded the rating on Tier-II bonds (under Basel III) and Infrastructure Bonds of YES Bank to 'CRISIL A-' from 'CRISIL BBB+' and revised its outlook to 'Positive' from 'Stable'

Sebi imposes Rs 2 crore penalty on Rana Kapoor in AT1 bonds case

The AT1 bonds of Yes Bank were entirely written off as a part of a restructuring scheme

Sebi imposes Rs 2 cr fine on Rana Kapoor in YES Bank AT-1 bonds case

Capital markets regulator Sebi on Wednesday imposed a penalty of Rs 2 crore on former Yes Bank MD and CEO Rana Kapoor for mis-selling the private sector lender's AT-1 bonds. He has been directed to pay the fine within 45 days, the Securities and Exchange Board of India (Sebi) said in its order. The case relates to mis-selling of the bank's AT1 bonds to retail investors by its officials. It was alleged that the bank and certain officials did not inform investors of the risk involved while selling the AT-1 (Additional Tier-1) bonds in the secondary market. The sale of AT1 bonds started in 2016 and continued till 2019. In its 87-page order, the markets regulator found that Kapoor was overseeing the entire activities relating to the secondary sale of AT-1 bonds, taking regular updates from the team and giving them further instructions to increase the sales, thus creating pressure on the officials to ramp up the sales. It further said that he was responsible for acts of suppression of

YES Bank likely to acquire Bengaluru's Ritz Carlton from NEL Holdings

Ritz Carlton in Bengaluru was the first property of Marriott International under the Ritz Carlton brand

Stocks to Watch Today: Paytm, Reliance, NDTV, ICICI Bank, Yes Bank

Stocks to Watch Today: Tamilnad Mercantile Bank's IPO will open for subscription in the price band of Rs 520 - 525 on Monday.

Fiscal 2022 was not the smoothest year for Dish TV: Annual Report

The DTH market has been facing major challenges as the market evolves steadily. Linear television is making way for digital services, forcing players to reinvent quickly.

YES Bank hikes interest rate on NRE, FCNR fixed deposits as norms are eased

RBI has taken several steps such as exempting banks from maintaining CRR and SLR on incremental NRE and FCNR (B) deposits, in order to attract dollars and protect the rupee