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Morgan Credits sells 2.3 per cent in Yes Bank to pay back Reliance Nippon
Posted on 20th September 2019
Morgan Credits (MCPL), part of the promoter group of YES Bank, on Thursday sold a 2.3% shareholding in the bank. The proceeds will solely be utilised to prepay a substantial part of outstanding NCDs of MCPL subscribed by various schemes of Reliance Nippon Life Asset Management Company (RNAM).

CARE downgrades NCDs of Yes Bank promoter MCPL
Posted on 19th September 2019
CARE Ratings on Tuesday downgraded non-convertible debentures of Morgan Credits (MCPL) to ‘BBB-’ from ‘A-’. MCPL is one of the promoter entities of Yes Bank holding a 3.03% stake in the lender as on March 31, 2019. Data from Value Research show that debt mutual funds of Reliance Mutual Fund hold Rs 913.47 crore in debt papers issued by MPCL.

Opinion | Yes Bank torn between past errors and tech savior hopes
Posted on 17th September 2019
India’s fragile financial system is swinging between despair and hope. Two separate incidents — both featuring the lender Yes Bank Ltd. — recently underscored the drag of past underwriting follies as well as the lift from a digital reset. It will take time, but good things will come to Indian banking as a result of the present crisis.

Yes Bank pledged shares: Reliance Nippon Life yet to give consent for sale
Posted on 12th September 2019
Reliance Nippon Life Asset Management (RNAM) has clarified that it has not given consent for any transaction relating to Yes Bank’s pledged shares. Several media reports suggested that Rana Kapoor of Yes Bank was looking to exit by selling his and his family’s stake to Vijay Shekhar Sharma of Paytm. Rana Kapoor and his family have around 9.65% stake in the bank, and according to the reports, they have pledged 7.34% with RNAM.

YES Bank's co-founder Rana Kapoor likely to sell his stake to Paytm
Posted on 11th September 2019
Rana Kapoor, co-founder of YES Bank, is said to be in talks with One97 Communications, owner of Paytm, to sell his stake in the private sector lender. Kapoor and his associate entities owned 10.6 per cent in the bank at the end of June 2019. Around 7.34 per cent of the Kapoor family stake has been pledged with Reliance Nippon Asset Management Company (RNAMC).

Yes Bank partners Microsoft to strengthen its AI powered banking solutions
Posted on 4th September 2019
NEW DELHI : Yes Bank, India’s fourth largest C, has partnered with Microsoft to strengthen its first of its kind, AI enabled chatbot, Yes Robot, with advanced neuro language programming (NLP) engine LUIS (Language Understanding Intelligent Service) and other cognitive services, capable of understanding and resolving the evolving banking needs of customers without the need for human intervention.

Yes Bank stock gets rating shock
Posted on 29th August 2019
Global rating agency Moody’s Investors Service has downgraded private lender Yes Bank’s ratings to junk status with a negative outlook, citing the lower-than- expected capital raised from the recent QIP issue and the plunging share prices that will be a hurdle in raising more funds.

Yes Bank shares slump despite $1.2 billion fund raising plan report
Posted on 28th August 2019
Shares of India’s major private sector lender Yes Bank slumped on Wednesday morning, despite media reports that the bank’s board is mulling a $1.2 billion fund raiser. According to a report by ET Now, Yes Bank’s board of directors are likely to meet soon on Friday to discuss a mega fund raiser, CNBC TV18 reported citing sources. The equity infusion will be subject to shareholder approval. The development comes after Yes Bank raised Rs 1,930 crore through Qualified Institutions Placement (QIP) route last week.

Yes Bank shares tumble 7% on fraudulent transactions at CG Power and Industrial Solutions
Posted on 20th August 2019
Shares of Yes Bank plunged more than 7 per cent after the risk and audit committee of CG Power and Industrial Solutions in which the private lender owns more than 12.79 per cent stake said there were some unauthorized transactions by certain employees of the company. CG Power also received a letter from a particular financing company regarding a certain interest payment failure which the Operations Committee of the company was unable to trace or ascertain from the financials of the company, according to the exchange filing.

Yes Bank eyes $600 mn more after raising $270 mn from marquee investors
Posted on 16th August 2019
Mumbai: Yes Bank Ltd is planning to raise an additional $600 million from large investors to bolster its capital buffers, two people directly aware of the lender’s capital raising plans said.

The bank plans to raise more funds after its qualified institutional placement (QIP) offering that closed on Wednesday was oversubscribed, the people said on condition of anonymity. Yes Bank raised about $270 million in the fundraising.

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