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He added that only a third of customers have withdrawn the entire amount of ₹50,000 allowed during the moratorium.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.
This story is from the March 18, 2020 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the March 18, 2020 edition of Business Standard.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
NSE shares up after bonus, dividend
The National Stock Exchange (NSE), the country's top bourse, has seen its market value soar by nearly 85,000 crore to 3.21 trillion after declaration of a four-for-one bonus issue and dividend of ₹90 per share.
China is the story of moment in EM equities: Wood
Christopher Wood, global head of equity strategy at Jefferies, is turning bullish on Chinese equities and believes China is the story of the moment in the emerging market equity space as things stand.
Sebi cracks whip on 2nd SME, bars promoter for diverting IPO funds
The Securities and Exchange Board of India (Sebi) on Friday barred Varanium Cloud and its managing director for allegedly diverting funds raised through initial public offer (IPO) to other entities and other fraudulent practices, the second such action by the markets regulator within a week.
Spike in SIP churn as investors rebalance
Registrations rose 48% in April, account closures 42%; experts say rotation at play
Ensure donations claimed in tax returns match Form 10BE figures
Retain Form 10BE and related documents for at least 4 years to validate Section 80G claims
SBI remains a bankable bet for long-term gains
Seen rising 22% over next year, but rally could be gradual, given rich valuations
Ahead of Paris Olympics, will Schengen visa woes ease?
Ahead of the 2024 Paris Olympics, which begin on July 26, more and more Indians are charting out trips to the Schengen countries, but the going hasn't been smooth.
The case of 'missing' numbers in CSR data
Companies listed on the NSE spent a record ₹15,524 cr on CSR programmes in 2022-23
A NEW MAUL GAME
Batters are mauling bowlers this IPL like never before, as the impact player rule effectively gives every team 12 players. Where is it taking the game?
IIP growth slows to 4.9% in March
Drop comes on the back of slowdown in mining output SHIVA
