The funding will be provided to around 100 food processing projects with an average ticket size of Rs 10 crore each, the bank said in a statement.

Private sector lender Yes Bank today signed an agreement with the government to provide Rs 1,000 crore financing for food processing projects.

Shares of YES Bank slumped 7.4 per cent after investors took fright at revised bad loan figures which were four times higher than those previously reported by the Mumbai-based lender.

Earlier this week, the Reserve Bank of India (RBI) had fined YES Bank, controlled by billionaire Rana Kapoor, for under-reporting its bad loans in audited results for the year to March 31. The bank also underestimated its soured loans in the preceding two fiscal years, according to previous filings.

YES Bank dipped 10% to Rs 299 on the BSE in early morning trade after the private sector lender saw significant weakening of its asset quality in September 2017 quarter (Q2FY18).

The bank’s gross non-performing assets (GNPA) ratio rose to 1.82% in Q2FY18 from 0.97% in June quarter (Q1FY18), while Net NPA rose to 1.04% from 0.39% in previous quarter. It saw a rise in NPAs by Rs 6,355 crore as the Reserve Bank of India (RBI) asked it to restate bad loan figures for FY17.

Private lender YES Bank saw a rise in net profit by 25.1 per cent to Rs 1,003 crore for the September quarter as against Rs 802 crore in year ago period.

Gross bad loans as a percentage of total loans stood at 1.82% at end-Sept, compared with 0.97% a quarter earlier and 0.83% in the year-ago period.

MUMBAI: Midsize private sector lender Yes Bank today claimed that its credit card portfolio has grown to over Rs 250 crore with 2 lakh customers within one year of entering the segment.

"We are running ahead of time in achieving milestones which we had set for ourselves. Our focus is on building the user-base right now and we have 2 lakh cards now," its retail head Pralay Mondal told reporters here.

Private lender YES Bank has gone in for "rationalisation" of workforce to address certain "redundancies", the company has said.

According to reports, the bank has reduced its workforce by nearly 2,500 on account of digitisation and automation.

Yes Bank hit a new high of Rs 383, up 2% on BSE in early morning trade after the stock turned ex-stock split in the ratio of 1:5 with effect from today.

The board of Yes Bank on July 26, 2017 had approved stock split in the ratio of 5 for 1, i.e. sub-division of 1 equity share of face value of Rs 10 each fully paid up into 5 equity shares of Rs 2 each fully paid up.

YES Bank has cut saving bank interest rate by 100 basis points (one per cent) to five per cent for account balances with less than Rs 1 lakh. For balances of Rs 1 crore and above, the new rate will be 6.25 per cent, down from 6.5 per cent. The new rates on balances in savings deposits would be effective from September 1, 2017, it said in a statement.

The bank has kept interest rates of 6 per cent unchanged for deposits of over Rs 1 lakh and less than Rs 1 crore.

Sudharshan Sukhani of s2analytics.com advises the investors to stay invested in the Yes Bank stock. One of the best technical analysts in the country, Sukhani advised the investors to hold on to bluechip companies without getting nervous. In conversation with CNBC TV-18, the expert believed that, this is a long term bull market, and there is still a lot of opportunity in the Yes Bank stock for the net 2-3 years. He said that the prices will be volatile in the short term, and it must not unsettle the investors. On the back of excellent first quarter results announced by the company, the shares of the bank were trading at all time high levels.

YES Bank moved higher to its record high of Rs 1,717, up 6% on BSE after the bank reported a better than expected year on year (Y-o-Y) jump of 32% in net profit at Rs 966 crore in the June quarter (Q1FY18). The bank had reported Rs 732 crore net profit in the same quarter an year ago.

Net interest income (interest earned minus interest expended) rose 44% Y-o-Y to Rs 1,809 crore from Rs 1,256 crore in the corresponding quarter of previous fiscal year.

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