YES Bank is hoping to recover about ₹8,500 crore from its loan defaulters, mostly corporate entities, in the coming financial year (which begins April 1), said the bank’s administrator on Tuesday. In the December-quarter results, which the bank announced last week,its gross non-performing assets (NPAs) more than doubled to ₹40,709 crore from ₹17,134 crore in September.
Addressing the media a day ahead of the lifting of a moratorium on YES Bank’s operations, administrator Prashant Kumar said the bank had made adequate preparations for any surge in withdrawal of deposits.
“All our ATMs and branches are sufficiently filled with cash and we will not need any external liquidity support. But, if the need comes, we have lines available,” he said.
He added that only a third of customers have withdrawn the entire amount of ₹50,000 allowed during the moratorium. “We have had higher inflows than outflows in the last few days,” Kumar said.
He assured that complete normalcy will be restored. RBI Governor Shaktikanta Das had on Monday assured liquidity support if the need arose. Going forward, the bank will work to move away from dependence on bulk deposits.
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