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<ul><li>YES Bank’s is aiming for 25% growth this year, beating the economic slowdown.</li><li>YES Bank’s Senior Group President <keyword id="5165927" type="PERSON" weightage="20" keywordseo="Rajan-Pental">Rajan Pental</keyword> says that since the bank is mostly present in the affordable housing segment, the sluggishness of home loans does not affect it.</li><li>YES Bank also plans to double its assets and liabilities from its rural branches.</li></ul>India is the midst of an economic slowdown with the housing and automobile sector showing the most immediate effects. Yet, YES Bank is bucking the trend and planning to grow its retail banking segment by 25% this year. "We have been growing the business with a very conservative growth and sticking to the segments which are risk averse. That has been our strategy… This year, we should be growing by approximately 25%," Rajan Pental, Senior Group President and Group Head of Branch and Retail Banking at YES Bank told Business Insider India. And, the bank has no plans to reduce its interest rates either. "The rate has a lot of correlations and linkages. For us, we would like to stick to the current rate. We charge better than the other players in the industry. We don’t want to venture into the risk-tier segment," said Pental. Custom-made branches The bank plans to ramp up its digital acquisition of customers to increase its own productivity. It is also planning on customizing its branches according to the customers it services. For instance, a branch that caters primarily to senior citizens would have a different management system than a branch that caters to small and medium enterprises. In addition, YES Bank is planning to bag new customers. But, it won’t accept just anyone. It is looking to onboard ‘quality’ customers with good credit records to keep with its risk-averse strategy. "For example, in personal loans, we don’t fund people who have a salary of ₹15,000 or less. We have fine pricing but at very fine credit quality. And, that is what we would like to stick to," explains Pental. "Out strategy is not to acquire all — it is only to acquire the best customers," he added Doubling asset book YES Bank rural branches are modeled around public sector banks rather than the conventional private sector model. The branch managers have more power since they’re closer to the ground and have better knowledge of the area to conduct credit evaluation. "Despite the slowdown, we can see ourselves doubling our liability book in the rural sector this year. We will also double our asset book," said Pental. According to him, the requirements of rural customers are at par with the requirements of the urban customer. Last year, the books for rural branches stood at ₹2,500 crore and YES Bank plans to hit ₹ 5,000 crore by the end of the year. "These branches, though a small percentage, are growing at a much faster pace than their counterparts in the urban market," explained Pental. Bucking the slump in home loans "The stress is mostly in the medium and large housing segment where we are not present," said Pental. YES Bank primary target market for home loans is affordable housing where it claims to be growing at a rate of 20-25%. One of the key strategy they have followed is sticking to verified incomes and not baking on too many surrogates, which it claims has largely kept its portfolio intact. The other reason that Pental cites is that YES Bank doesn’t venture into to deep geographics. It’s presence is restricted to urban and semi-urban markets where the affordable segment is growing at a reasonable pace. "Even though the impression is that this is the low income segment but, in our experience, we see millennials, youngsters, first time job who are seeking a studio or 1BHK," said Pental. "We also see low income groups, which is an even split between salaried and self employed customers," he added. Going forward, the biggest challenge YES Bank foresees is the non-delivery of homes. "Apart from a normal default, which quite less in home loans, the concern which is building is the non delivery of the projects," stated Pental. YES Bank has also seen an Increase in the demand of commercial leasing space. "Our observation is, the way properties were falling last year has stagnated to a large extent. There’s no further fall, the values are stable today," said Pental. See also: <a href="https://www.businessinsider.in/yes-bank-stock-spikes-11-6-in-early-trade-as-it-stays-clear-of-losses/articleshow/70271361.cms">Yes Bank's share price is not celebrating the surprise profit because it has a capital problem</a> <a href="https://www.businessinsider.in/yes-bank-q1-earnings-report-yes-bank-share-price-q1-earnings-repor/articleshow/70261380.cms">Yes Bank profits dropped 91%-- but it was still way better than expectations</a> <a href="https://www.businessinsider.in/yes-bank-wipro-and-other-big-earnings-keep-indian-markets-on-the-edge/articleshow/70255005.cms">Yes Bank, Wipro and other big earnings keep Indian markets on the edge</a>

YES Bank wants to customize branches, ramp up digitize customer acquisition to grow at a breakneck speed of 25%

<ul><li><keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> will focus more on giving retail loans and to MSMEs and will trim its <keyword id="9567617" type="UNKNOWN" weightage="20" keywordseo="corporate-loan-portfolio">corporate loan portfolio</keyword>.</li><li>Bank's CEO <keyword id="219963" type="PERSON" weightage="20" keywordseo="Prashant-Kumar">Prashant Kumar</keyword> on Monday said that the ratio of the bank's loan book was inclined more towards corporate loans, with the corporate to retail loan ratio of 55 per cent to 45 per cent. </li><li>The corporate vertical will focus more on growing asset -- light businesses like providing digital and transaction solutions to corporates. The CEO of the restructured bank said that the lender will only pause lending in the segment. </li></ul> Yes Bank will focus more on giving retail loans and to MSMEs and will trim its corporate loan portfolio. Bank's CEO Prashant Kumar on Monday said that the ratio of the bank's loan book was inclined more towards corporate loans, with the corporate to retail loan ratio of 55 per cent to 45 per cent. "We would like to change this mix and have corporate share at 40 per cent and retail and MSME at 60 per cent over a period of time. We would like to grow at the rate of 20 per cent on the retail and MSME side," Kumar said. The corporate vertical will focus more on growing asset -- light businesses like providing digital and transaction solutions to corporates. The CEO of the restructured bank said that the lender will only pause lending in the segment. He, however, said that the lower end of the corporate loan portfolio will continue in terms of loan growth. Kumar told the media that deposits have increased of late and in April the bank witnessed the highest number of fixed deposits in the past one year. On the upcoming further public offering (<keyword id="46435" type="COMPANY" weightage="20" keywordseo="FPO">FPO</keyword>), he said the issue will increase the Common Equity Tier 1 (CET) capital ratio from current 6.3 per cent to almost 13 per cent, which will give a buffer of 500 basis points over the regulatory minimum requirement. The bank will use the proceeds of the FPO largely as a buffer. The bank's FPO with an aim to raise up to Rs 15,000 crore will open on July 15 and close on July 17. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/amazon-reportedly-told-employees-they-have-to-delete-tiktok-from-their-phones-due-to-security-risks/articleshow/76900325.cms">Amazon told employees to delete TikTok from their phones — then walked back the policy and said it was an 'error'</a> <a href="https://www.businessinsider.in/india/news/photographer-of-the-viral-black-panther-images-from-india-shares-his-story/articleshow/76830618.cms">INTERVIEW: Shaaz Jung opens up about the blood, sweat and years behind the viral images of a rare black panther</a> <a href="https://www.businessinsider.in/tech/news/intel-will-speed-up-mukesh-ambanis-5g-run-power-him-with-ai-and-possibly-a-jio-laptop/articleshow/76780290.cms">Intel will speed up Mukesh Ambani’s 5G run, power him with AI and possibly a Jio laptop⁠— all in return for massive amount of data</a>

Yes Bank to trim corporate portfolio, focus on retail loans

<ul><li>The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a higher start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider. </a></li></ul>Amidst positive cues from the global markets, the Indian equities are likely to open higher on Monday. The SGX Nifty was trading 0.23% higher at 7:55 am, indicating a positive opening for Nifty50. These are the stocks to watch out for during the trading session on October 26: Future Retail and RIL The Singapore arbitration court ruled in favour of American e-commerce giant Amazon with regard to the Future-RIL deal. The court has directed Kishore Biyani’s led Future Group to not proceed with Mukesh Ambani’s Reliance Retail deal until the outcome of the arbitration process. The shares of Future Retail and RIL ended 4% and 0.24% higher, respectively, on Friday. DHFL According to PTI reports, the committee of creditors (CoC) of debt-ridden DHFL is scheduled to meet today to take a call on four bids received as part of the resolution process for the beleaguered firm. The four bidders include Adani Group, Piramal Enterprises, US-based Oaktree and Hong Kong-based SC Lowy. The shares of DHFL ended 5% lower on Friday. IndusInd Bank and Kotak Mahindra Bank The Mauritius-based, IndusInd Bank promoter, IndusInd International Holdings Ltd (IIHL) refuted <a href="https://www.cnbctv18.com/finance/indusind-bank-says-report-on-merger-with-kotak-mahindra-bank-is-untrue-and-malicious-7297331.htm">media reports claiming that</a> Kotak Mahindra Bank may take over the bank. The shares of IndusInd Bank and Kotak Mahindra Bank ended 0.3% and 0.5% lower, respectively, on Friday. ICICI Bank The Indian multinational Bank, ICICI Bank has shut its operations in Sri Lanka after getting approval from the Sri Lankan monetary authority. The shares of ICICI Bank ended 0.84% higher on Friday. Vedanta Vedanta on Saturday said its board has approved the first interim dividend of ₹9.50 per share amounting to ₹35 billion. The shares of Vedanta ended flat on Friday. Tata Motors Tata Motors on Friday told investors that it has bagged an order for 6,413 vehicles from Andhra Pradesh State Civil Supplies Corporation. The company said it emerged as the top bidder under the terms and conditions set by the government. The shares of Tata Motors ended 3% higher on Friday. Tech Mahindra Tech Mahindra<a href="https://www.businessinsider.in/business/corporates/news/tech-mahindra-q2-maring-expansion-and-acquisitions/articleshow/78827612.cms"> reported a 5% year-on-year drop in its profit to ₹1,065 cror</a>e for the quarter ended September 30. Although the profit was up 9.5% compared to the sequential quarter. The company generated revenue of ₹9,372 crore, up 3.3% year-on-year. The shares of Tech Mahindra ended 1% higher on Friday. Yes Bank The private sector lender, Yes Bank is back in the black after reporting a net profit of ₹129 crore for the second quarter ended September 30. The bank had posted a net loss of ₹600 crore in the corresponding quarter last year. However, the bad loans in Yes Bank’s portfolio remained elevated. The shares of Yes Bank ended 5% higher on Friday. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/the-first-satellite-with-ai-onboard-is-now-in-orbit-and-its-tech-could-completely-change-how-we-respond-to-wildfires/articleshow/78858333.cms" data-type="tilCustomLink">The first satellite with AI onboard is now in orbit, and its tech could completely change how we respond to wildfires</a> <a href="https://www.businessinsider.in/stock-market/news/the-stock-market-has-historically-performed-better-when-the-incumbent-president-wins-reelection-according-to-one-analysis/articleshow/78858968.cms" data-type="tilCustomLink">The stock market has historically performed better when the incumbent president wins reelection, according to one analysis</a>

Top stocks to watch — Future Retail, RIL, IndusInd Bank, Kotak Mahindra Bank, ICICI Bank, Tata Motors, Tech Mahindra, Yes Bank and others

Ratings firm <keyword id="6359483" type="COMPANY" weightage="20" keywordseo="Crisil">Crisil</keyword> has reaffirmed BBB rating on <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword>'s over Rs 18,000 crore bonds on the back of continued support by the country's largest lender SBI. Crisil has assigned its 'CRISIL BBB/Stable' rating to the Tier II bonds (under Basel III) of Rs 13,941 crore and infrastructure bonds of Rs 3,780 crore of Yes Bank, the recently bailed out lender said in a regulatory filing on Saturday. The agency has also reaffirmed its 'CRISIL A2' rating on certificates of deposit of Yes Bank. BBB ratings are of moderate safety with regard to servicing of financial obligations. While debt securities with A2 rating are considered to have strong degree of safety regarding timely payment of financial obligations. Such instruments carry low credit risk. "The ratings are underpinned by the expectation of continued extraordinary systemic support from key stakeholders and sizeable ownership by State Bank of India (SBI). "Crisil has taken note of <keyword id="9362711" type="COMPANY" weightage="20" keywordseo="the-yes-bank-ltd-reconstruction-scheme">the Yes Bank Ltd Reconstruction Scheme</keyword>, 2020, (the Scheme) that was notified by <keyword id="1576501" type="COMPANY" weightage="20" keywordseo="The-Government-of-India">the Government of India</keyword> on March 13, 2020," Crisil said on the rating rationale. The reconstruction scheme followed the imposition of a moratorium on Yes Bank by the government on March 5, 2020, including the RBI, in order to bolster the bank's liquidity. The moratorium was lifted on March 18, 2020, and the bank has since been providing full-fledged banking services to customers. Under the reconstruction scheme, Yes Bank has, among other measures, got equity infusion of Rs 10,000 crore by 8 entities, mainly banks led by SBI. "However, the ability of the bank to limit further deposit outflow, and to build a strong retail liabilities franchise and a stable and sound operating business model with strong compliance and governance framework over the medium term, needs to be demonstrated," said the Indian arm of <keyword id="9362712" type="LOCATION" weightage="20" keywordseo="the-sp-global">the S&amp;P Global</keyword>. Crisil also said the bank's asset quality is weak and the impact of the shift in business model to focus on granular retail segments will need to be seen over a longer period. "These will be key rating monitorables. The nationwide lockdown declared by government to contain the spread of Covid-19 pandemic has impacted disbursements and collections of financial institutions," the agency said. The lockdown and restrictions are now being lifted in phases. Any delay in return to normalcy will increase pressure on collections and hence asset quality, it added. Further, moratorium to Yes Bank customers may impact collections in near-term and any change in payment discipline of borrowers can affect delinquency levels post the moratorium, Crisil said. "Given this, gross non-performing assets (NPAs) could rise due to weakening in most sectors. This may increase the credit cost in fiscal 2021, thereby impacting the profitability of the bank, and will be a key monitorable," it said. KPM BAL

Crisil affirms Yes Bank ₹18,000 crore bonds rating at BBB

New Delhi, May 2 () Yes Bank on Saturday said it has appointed Neeraj Dhawan as its chief risk officer with immediate effect. The board of directors, vide their resolution dated May 1, 2020, appointed Neeraj Dhawan as the chief risk officer of the bank for a period of three years, Yes Bank said in a regulatory filing. He will assume charge from Saturday in place of Ashish Agarwal, the current chief risk officer, who will be transitioning to a new role in the bank, it added. Prior to this, Dhawan was holding the position of chief risk officer for retail and business banking at Yes Bank. He has 29 years of experience in financial services and banking industry. KPM ABMABM

Yes Bank appoints Neeraj Dhawan as chief risk officer

<ul style=""><li style="">India's largest bank, the <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword> (SBI), has been told by the government to bail out <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword>, according to reports citing sources.</li><li style="">While Yes Bank stock bounced back from a 52-week low, the burden of another wobbly bank weighed the shares of SBI down.</li><li style="">“We may see a big spike in price of Yes Bank and negative reaction in price of SBI,” <keyword id="3328688" type="PERSON" weightage="20" keywordseo="Abhimanyu-Sofat">Abhimanyu Sofat</keyword>, Head of Research, <keyword id="252339" type="COMPANY" weightage="20" keywordseo="IIFL-Securities">IIFL Securities</keyword>.</li></ul>Shares of Yes Bank on Thursday zoomed over 29 per cent in afternoon trade amid reports that the government has asked State Bank of India (SBI) to lead a consortium that will buy stake in the company. The scrip witnessed a sharp rise in afternoon trade, spiking 29.35 per cent to Rs 37.90 on the BSE. Earlier in the day, it had hit a 52-week low of Rs 28.05. On the NSE, it jumped 29.18 per cent to Rs 37.85 erasing early losses. The BSE has sought clarification from Yes Bank on Thursday with reference to news that government is said to have approved SBI's plan to buy stake in the company. "As per media reports, SBI has been told to invest as a lead in a consortium in Yes Bank. Though we may see a big spike in price of Yes Bank and negative reaction in price of SBI, we recommend caution to retail investors," Abhimanyu Sofat, Head of Research, IIFL Securities. The critical thing to watch would be percentage dilution of <keyword id="6391506" type="UNKNOWN" weightage="20" keywordseo="Equity">equity</keyword> taking into consideration the conversion of existing bonds issued by Yes Bank into equity, he said. SBI shares recovered from early losses and were trading over 3 per cent higher. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/rbi-may-have-to-bailout-yes-bank-if-it-fails-to-raise-2-billion-by-march-14/articleshow/74438627.cms" data-type="tilCustomLink" target="_blank">RBI may have to bail out Yes Bank if it fails to raise $2 billion by March 14</a> <a href="https://www.businessinsider.in/yes-bank-news-and-share-price-under-ceo-ravneet-gill/articleshow/71884080.cms" data-type="tilCustomLink" target="_blank">Yes Bank under CEO Ravneet Gill⁠— eight months of wild mood swings</a>

Yes Bank stock zooms 29% after rumours that SBI will buy into it

Mumbai, Mar 7 () Fintech startup PayNearby, which has a tie-up with Yes Bank to offers cardless and pinless ATM services to customers, on Saturday said its systems are running without any disruptions.The statement comes in the wake of disruption of Unified Payment Interface (UPI) offered by fintech players after Yes Bank was put under moratorium by the RBI.The Reserve Bank of India has imposed a moratorium on the bank and restricted withdrawals to Rs 50,000 per depositor till April 3.Following the restriction, the net banking facility of the bank was affected and customers were not able to log in."At PayNearby, its business as usual. Our systems are up and running without any disruption. We are a strong technology backed fintech company and have multiple banking partners," the company said in a statement.The company said it has worked tirelessly to ensure that customers across the country get served without any disruption."Yes Bank has been a very valuable partner in our journey and we are confident that they will soon bounce back and we will be able to continue working together again," the statement said.PayNearby Bank, along with Yes Bank provide Aadhaar-enabled cardless and pinless ATM service by which customers can deposit or withdraw money at retailers' place.On Friday morning, PhonePe, another digital payment platforms, which depends on Yes Bank to process its transactions, said it had faced challenges in its operations but services were restored later.Paytm Payments Bank Ltd (PPBL) also restricted transaction settlements, including those done through UPI platform, into cash-strapped Yes Bank's accounts. HV MKJ

Yes Bank crisis: PayNearby says functioning 'without any disruption'

<ul><li>At 9:01 am, the BSE pre-open was trading 0.23% higher, indicating a positive start for the Indian benchmark index. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open on a higher note on Monday, led by positive cues from the Asian markets. At 9:01 am, the BSE pre-open was trading 0.23% higher, indicating a positive start for the Indian benchmark index. Other Asian peers were trading in the positive territory as well — the SSE Composite Index was up 0.18%, SGX Nifty gained 0.52%, and the Hang Seng Index was up 22 points. These are the stocks to watch out for during the trading session today:Power Grid The board of Power Grid Corporation of India in its meeting held December 12 approved the payment of an interim dividend of ₹5 per equity share of ₹10 each for the financial year 2020-21. The interim dividend will be paid to the members on January 8. The share price of Power Grid closed 0.26% higher on Friday. Future Retail Reliance acquired Future Retail’s hypermarket chain Big Bazaar⁠— a deal <a href="https://www.businessinsider.in/business/news/future-retail-reliance-deal-bse-to-consult-sebi-after-amazons-request-heres-all-that-has-happened-so-far/articleshow/78949099.cms">challenged by Amazon</a> in Indian court⁠— is planning to open 16 more stores to take the overall count to 300 over the next three quarters. The Future Group firm, as per its expansion strategy, is expanding into the smaller tier-II cities in India, which is less impacted by the pandemic and has aspirations and an emerging consumption class. The share price of Future Retail closed 0.89% higher on Friday. Cipla Cipla on Friday announced the settlement of its patent litigation with a Bristol Myers Squibb (BMS) subsidiary on Revlimid, a drug for blood cancer. A wholly-owned subsidiary of Celgene, BMS has agreed to provide Cipla with a license to manufacture and sell certain limited volumes of generic lenalidomide drugs in the US. The share price of Cipla closed 0.88% lower on Friday. KEC International The global infrastructure major has secured new orders worth ₹1,438 crore across its various businesses. The share price of KEC International closed 0.77% lower on Friday. Delta Corp Delta Corp informed exchanges that it had received approval from the Goa Investment Promotion and Facilitation Board to set up an integrated resort consisting of hotels, convention centre, multiplex cinema, retail facilities at Pernem, Goa. The share price of Delta Corp closed 2.7% higher on Friday. Yes Bank and Sical logistics Yes Bank has sold 2.56% of the total equity in Coffee Day group-owned Sical logistics. The share price of Yes Bank closed 5% lower on Friday. Central Bank of India The capital raising committee of the Central Bank of India has approved the proposal for raising capital funds up to ₹500 crore. The share price of the Central Bank of India closed 0.33% lower on Friday. Adani Power Adani Power on Saturday said electricity regulator Maharashtra Electricity Regulatory Commission (MERC) had passed two orders, which would enable its arm APML to claim revised compensation of higher coal from Maharashtra Electricity Distribution Company Ltd (MSEDCL). The share price of Adani Power closed 5% lower on Friday. Burger King India The shares of Burger King India will hit the bourses today. The shares will be listed on both BSE and NSE. The grey market premium suggests an upside of 85% over the issue price band set at ₹59-60. SEE ALSO:<a href="https://www.businessinsider.in/tech/news/huawei-reportedly-worked-with-4-additional-companies-to-build-surveillance-tools-that-track-people-by-ethnicity-following-recent-revelations-that-it-tested-a-uighur-alarm/articleshow/79712815.cms" data-type="tilCustomLink"> Huawei reportedly worked with 4 additional companies to build surveillance tools that track people by ethnicity, following recent revelations that it tested a 'Uighur alarm'</a> <a href="https://www.businessinsider.in/international/news/an-iphone-factory-in-india-has-erupted-in-violence-over-a-dispute-about-workers-pay/articleshow/79707169.cms" data-type="tilCustomLink">An iPhone factory in India has erupted in violence over a dispute about workers' pay</a>

Top stocks to watch — Future Retail, Power Grid, Cipla, Delta Corp, Yes Bank, Adani Power and others

New Delhi, Mar 17 () With moratorium being lifted from Wednesday, the crisis-hit Yes Bank might see a heavy withdrawal of deposits by customers, according to a report.On March 5, the Reserve Bank of India (RBI) imposed a moratorium on the troubled private sector lender, including capping withdrawals at Rs 50,000 per depositor.Lifting of deposit withdrawal moratorium on March 18 could open flood gates and will require a calibrated approach along with active support and signaling from the RBI, government and investor banks, said Emkay Alpha Portfolio in its report.The moratorium would be lifted by 6 pm on March 18, as per the reconstruction scheme notified by the government on Friday.However, Yes Bank CEO-designate Prashant Kumar said there are absolutely no worries on the liquidity front and that complete operational normalcy would be restored from 6 pm on Wednesday."We have made adequate precautions. All our ATMs are full with cash. All our branches have adequate supply of cash. So, from Yes Bank side, there is absolutely no issue on the liquidity front," Kumar said.According to rating agency Crisil the moratorium would pose challenges to companies that have cash credit facilities and current accounts with YesBank. The ensuing financial stress can impact their ability to service financial obligations on time in spite of sufficient liquidity, it said. Companies having material banking relationship with Yes Bank could face financial stress, which does not reflect their inability or unwillingness to meet obligations.Many retail customers are waiting for the first opportunity to withdraw their hard earned money from the bank.Yes Bank Reconstruction Scheme 2020, SBI cannot reduce its stake in the bank to below 26 per cent for a period of three years, while other investors and existing shareholders will have a lock-in period of three years for 75 per cent of their investment in Yes Bank. However, the lock-in period will not apply to shareholders with less than 100 shares.The Yes Bank Reconstruction Scheme 2020 came into force on March 13, 2020, the gazette notification had said. DP MKJ

Yes Bank likely to face withdrawal rush with lifting of moratorium from Mar 18: Report

New Delhi, Jan 30 () Yes Bank on Thursday said it has sold more than 15 lakh shares, constituting 2.68 per cent of equity stake, of SICAL Logistics in various tranches.
 The shareholding of Yes Bank in SICAL Logistics has come down to 5.49 per cent post sale of the 15.66 lakh shares, according to a regulatory filing.
 The private lender on January 15 had announced acquisition of 
60,00,000 equity shares constituting around 10.25 per cent of paid-up share capital of SICAL Logistics Limited through invocation of pledged shares.
 The bank on January 23 had sold more than 12 lakh shares of SICAL Logistics, bringing its stake to around 8 per cent. 
 "Yes Bank has sold 15,66,909 equity shares having nominal value of Rs 10 each, constituting 2.68 per cent of the paid-up share capital of SICAL Logistics Limited (SICAL) in various tranches, last being on January 29, 2020 resulting into a change in holding of the bank by more than 2 per cent of the total shareholding of SICAL," Yes Bank said in a regulatory filing on Thursday.
 SICAL Logistics is engaged in providing dredging and retail supply chain logistics solutions. 
 Yes Bank shares closed 5.22 per cent down at Rs 39.05 on BSE. SICAL Logistics dropped 4.82 per cent to end at Rs 10.85 on BSE. KPM MR

Yes Bank sells over 15 lakh shares of SICAL Logistics

<ul><li>At 7:40 am, the SGX Nifty was trading 0.23% lower, indicating a muted start for Nifty50. </li><li>Here’s a list of stocks to watch for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider</a>. </li></ul>Indian stock market is likely to open on a negative note amidst cautious cues from global peers. At 7:40 am, the SGX Nifty was trading 0.23% lower, indicating a muted start for Nifty50. On Thursday, the US stocks finished sharply lower as tech shares lost momentum. The Dow Jones Industrial Average ended 1.45% lower. While the S&amp;P 500 lost 1.76% towards the end of trading. Here’s a list of stocks to watch for in trade on September 11: Reliance Industries and Future Retail Mukesh Ambani led RIL has clarified on the circulating news report about the company selling Amazon $20 billion stakes in its retail arm. RIL said, “we do not comment on media speculation and rumours, and we cannot confirm or deny any transaction which may or may not be in the works.” This may also move the shares of Mukesh Ambani’s recently acquired Future Retail. The shares of RIL closed 7.29% higher yesterday, whereas Future Retail was locked in a 5% upper circuit. Bank of Baroda and Union Bank The Bank of Baroda reduced Marginal cost of funds-based lending rate (MCLR) between 5-30 basis points across various tenors with effect from September 12. The Union Bank of India also decided to reduce the MCLR by up to 5 basis points across tenors. One hundred basis points make 1%. The shares of Bank of Baroda closed 3% higher yesterday, whereas Union Bank gained 2%. Info Edge Info Edge said its investee company Zomato had raised $160 million (₹1,173 crore) in funding from Tiger Global and Temasek Holdings subsidiary MacRitchie Investments, valuing the online food ordering platform at $3.3 billion. The shares of Info Edge closed 3.30% higher on September 10. HAL The state-owned Hindustan Aeronautics Limited (HAL) reported a 74% drop in its net profit to ₹148.7 for the first quarter ended June 30. The company’s overall revenue was down 47% compared to the same period last year. The shares of HAL closed 3.24% higher on Thursday. Maruti Suzuki The promoter of India’s largest car manufacturer Maruti Suzuki— Suzuki Motor Corporation acquired 2.84 lakh shares from September 8-9. The shares of Maruti Suzuki closed almost flat on Thursday. Hindustan Copper Hindustan Copper reported a 40% jump in its consolidated net profit to ₹29.8 crore for the first quarter ended June 30. The company’s revenue increased 41.9% to ₹431.4 crore. The shares of Hindustan Copper closed 3% higher on September 10. Yes Bank Yes Bank said it has fully repaid the ₹50,000 crore provided by RBI as a special liquidity facility (SLF) amid the crisis faced by the lender earlier this year. The shares of Yes Bank closed 2.20% higher on September 10. BHEL, IRCTC, Rail Vikas Nigam and Adani Green Energy These companies are slated to report their first quarterly earnings today. SEE ALSO: <a href="https://www.businessinsider.in/retail/news/indias-largest-company-reliance-industries-has-reportedly-offered-amazon-a-40-stake-in-its-retail-arm-for-20-billion/articleshow/78041109.cms" data-type="tilCustomLink">India's largest company, Reliance Industries, has reportedly offered Amazon a 40% stake in its retail arm for $20 billion</a> <a href="https://www.businessinsider.in/finance/news/citigroup-ceo-michael-corbat-announces-plans-to-retire-hell-be-replaced-by-the-banks-consumer-chief-jane-fraser-/articleshow/78040520.cms" data-type="tilCustomLink">Wall Street shatters a glass ceiling as Jane Fraser is announced as Citigroup's new CEO, becoming the first woman to lead a major US bank</a>

Top stocks to watch— RIL, Future Retail, Bank of Baroda, Yes Bank, HAL, Info Edge, Maruti Suzuki, IRCTC, BHEL, HAL, Rail Vikas Nigam and more

Mumbai, Jun 19 () Pralay Mondal will be joining small sized private sector lender CSB Bank as the president of retail business, the lender announced on Friday. The announcement comes days after Axis Bank informed exchanges about Mondal's decision to quit as executive director (retail banking) after spending a year at the bank. In a statement issued by Axis Bank, Mondal cited "personal compulsions" as reasons to quit. Speculation was rife about Mondal joining a smaller private sector lender after the Axis Bank stint, which ends in September. At CSB Bank, Mondal has been appointed as the president of retail, small and medium enterprises, operations and information technology. CSB's Managing Director and chief executive V R Rajendran said Mondal is a "proven trailblazer"who will bring along with him a strong commercial banking experience. "He has an excellent track record of having built retail and SME businesses, while maintaining healthy portfolio quality and service levels. I am confident that we have selected the choicest person for CSB Bank and that he will drive strong and healthy business growth in the years ahead," Rajendran said. The bank statement said Mondal's achievements include pioneering efforts in doorstep banking and direct sales, creating deep geography distribution, and building and scaling up retail businesses. Apart from that he is also credited with building the capital market, wealth management, private banking, NBFC, credit cards, payments and digital businesses from the scratch, it added. Mondal had worked with HDFC Bank and Yes Bank earlier before joining Axis Bank in April 2019 after the appointment of Amitabh Chaudhry as the head of the bank. AA ANU ANU

You Searched For "Yes Bank retail" and got 12 results

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Yes Bank sells over 15 lakh shares of SICAL Logistics

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Top stocks to watch— RIL, Future Retail, Bank of Baroda, Yes Bank, HAL, Info Edge, Maruti Suzuki, IRCTC, BHEL, HAL, Rail Vikas Nigam and more

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Pralay Mondal to join CSB Bank as head of retail biz

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