Yes bank crisis in India 2020
- 4 years ago
Yes bank crisis in India 2020
Over Rs 20,000 crore of Yes Bank’s non-performing assets (NPAs) are under the Enforcement Directorate’s scanner. The investigation agency is probing whether these loans were disbursed after receiving instructions directly from the bank’s co-founder Rana Kapoor and whether the latter received ‘kickbacks’ for approving the same.Yes Bank has a total exposure of over Rs 2.5 lakh crore. Of this, around Rs 42,000 crore has gone bad. The actual number of NPAs under the scanner could rise from the current Rs 20,000 crore once the true picture of Yes Bank's financials are revealed.On March 5, the banking regulator had put a moratorium on the cash-strapped bank, imposed withdrawal restriction of Rs 50,000 till April 3 and superseded its board through appointment of an administrator. the total exposure of Yes Bank could be over 2.25 lakh crore.Under the restructuring scheme, the bank's equity capital will expand from the existing 231 crore share of face value Rs 2 each to 2,400 crore shares of face value Rs 2 each.
Over Rs 20,000 crore of Yes Bank’s non-performing assets (NPAs) are under the Enforcement Directorate’s scanner. The investigation agency is probing whether these loans were disbursed after receiving instructions directly from the bank’s co-founder Rana Kapoor and whether the latter received ‘kickbacks’ for approving the same.Yes Bank has a total exposure of over Rs 2.5 lakh crore. Of this, around Rs 42,000 crore has gone bad. The actual number of NPAs under the scanner could rise from the current Rs 20,000 crore once the true picture of Yes Bank's financials are revealed.On March 5, the banking regulator had put a moratorium on the cash-strapped bank, imposed withdrawal restriction of Rs 50,000 till April 3 and superseded its board through appointment of an administrator. the total exposure of Yes Bank could be over 2.25 lakh crore.Under the restructuring scheme, the bank's equity capital will expand from the existing 231 crore share of face value Rs 2 each to 2,400 crore shares of face value Rs 2 each.