- Yesterday RBI supersedes
YES Bank board and limits withdrawals to ₹50,000 for a month. - The troubles at YES Bank started 2 years back.
- Like many peers, the bank was stressed out as many loans turned bad or non-performing assets.
Like many peers, the bank was stressed out as many loans turned bad or non-performing assets. In fact, it has exposure to institutions and companies which have gone down in the last few years be it IL&FS, Deewan Housing, Jet Airways, Cox & Kings, Altico Power, Coffee Day and more.
However, it is not just bad loans but its credit practices, the manner of leaving caution to wind and corporate governance brought it to its logical end.
Here is how the troubles at YES Bank started.