Yes Bank Repays Rs 35000 Crore to RBI, Shares Soar 5%


Yes Bank shares hit the 5 per cent upper circuit on Wednesday after its Chairman said the bank has repaid Rs 35,000 crore to the Reserve Bank of India (RBI) of the special liquidity facility provided by the Central bank.

At 11.27 a.m., shares of Yes Bank on the BSE were at Rs 15.78, higher by 4.99 per cent from its previous close.

In the bank’s annual report, the Chairman, Sunil Mehta, said, “I am pleased to report that the Bank has, as of date repaid Rs 35,000 crore of SLF and the balance will be repaid within the timelines set by RBI.”

The RBI had extended a Special Liquidity Facility (SLF) of Rs 50,000 crore to the restructured bank. Mehta added the bank has since then received strong customer liquidity inflows.

In his message to the shareholders, the Chairman also said that following the recent capital increase of Rs 15,000 crore through Further Public Offering (FPO), the bank’s Common Equity Tier-1 (CET) ratio has doubled to 13.4 per cent from 6.6 per cent at the end of June, 2020, bringing its capitalisation largely in line with the private sector peers.

He also informed the shareholders that the bank is closely monitoring the stress on its credit portfolio due to legacy issues along with the current macroeconomic conditions and the Covid-19 situation.

Previous articleAgnikul Looking at Foreign Rocket Ports for Launch apart from India
Next articleCommunist Ruling Govt of Kerala Accused of Corruption in Housing Project
Arushi Sana is the Founder of Santerra Living and Co-Founder of NYK Daily. She was awarded the Times Power Women of the Year 2022 and Times Digital Entrepreneur of the Year 2023. Arushi is also a Sustainability Consultant for organisations looking to reduce their carbon footprint and also works with brands on social media to help them carve a presence in that niche. She holds a Degree in Computer Science Engineering from VIT University and a Diploma in Marketing Analytics from IIM Nagpur. Her interest in Sustainable Living and Interior Design led her to start a Sustainable e-Marketplace where customers can buy eco-furniture and eco-friendly products for everyday use. Arushi is a writer, political researcher, a social worker, a farmer and a singer with an interest in languages. Travel and nature are the biggest spiritual getaways for her, and she aims to develop a global community of knowledge and journalism par excellence through this News Platform.

Was it worth reading? Let us know.