Will Yes Bank shut down?
The bank cannot be shut down nor can it be merged.
Yes Bank will be managed and run as an independent and private sector bank by a professional board with no interference by SBI in its day-to-day affairs, Kumar said.
Under RBI’s Yes Bank Ltd Reconstruction Scheme 2020, SBI will take up to 49% stake at ₹10 per share..
Who will takeover Yes Bank?
Collectively, LIC and SBI will acquire the 49% stake for Rs 490 crore, according to a report in the Economic Times. The stake acquisition has been approved by the RBI to rescue Yes Bank. The SBI board had late on Thursday also given the (SBI) bank an “in-principle” approval to invest in the capital-starved Yes Bank.
Is money safe in Yes Bank?
Given the size of the bank, the government stepped in rather quickly and it is unlikely that a bank of the size of Yes Bank would be allowed to collapse. This makes the deposits of Yes Bank safe at least for a tenure of 1-2 years.
Will Yes Bank shares rise?
Over the last month, Yes Bank shares have gained over 40 per cent and it has also seen a handsome rise in its market capitalisation, which is now just short of Rs 50,000 crore as of today. … Shares of the private sector lender have fallen 63 per cent since the beginning of the year and over 69 per cent in one year.
Is it good to invest in Yes Bank shares?
The shares of Yes Bank have not gone up a great deal since the follow on public offer. The next 1-2 years would be important for the bank, though we feel that it is back on track. Investors who hold the stock for a period of 2-3 years, might see decent returns.
Who is owner of Yes Bank?
Rana KapoorRana Kapoor, Founder, Managing Director & CEO, YES BANK received the ‘Entrepreneurial Banker of the Decade’ award from the Bombay Management Association today. The award was presented by Mr. K.N. Vaidyanathan, Executive Director, Securities and Exchange Board of India (SEBI) at the 14th Annual Convention in Mumbai.
Is Yes Bank a Nationalised bank?
Yes Bank Ltd will not be nationalised under the government’s plan to bail out the private lender with the help of State Bank of India (SBI)-led consortium that would acquire stake in the bank, sources aware of the development said.
Is Yesbank recovering 2020?
Shares of the private lender hit a 52-week high of Rs 87.95 and a 52-week low of Rs 5.55. As per reports, YES Bank has already made provisions of Rs 24,476 crore, representing 76% of its gross NPAs. … YES Bank’s offer to ARCs will be to recover at least 15 per cent amount i.e. Rs 5,000 crore upfront.
What is the highest share price of Yes Bank?
PRICE(In Rs)OPENHIGHLOW17.8518.5017.6017.8018.5017.6018.3018.5517.8518.2018.5017.8518 more rows