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The handsome credit growth witnessed at present will taper down next year if deposit growth continues to lag behind, <keyword id="6355975" type="General" weightage="100" keywordseo="axis-bank" source="Orion">Axis Bank</keyword> chief executive and managing director <keyword id="247960" type="General" weightage="50" keywordseo="amitabh-chaudhry" source="Orion">Amitabh Chaudhry</keyword> said on Friday. <keyword id="263188" type="General" weightage="80" keywordseo="chaudhry" source="Orion">Chaudhry</keyword> also advised some caution to be exercised by the system as it witnesses a high growth at present, saying decisions made today should not haunt 5-7 years down the line. "... If the deposit growth does not continue, our projection says that credit growth can taper down in the next year," Chaudhry said, speaking at Business Today's Banking and Economic Summit here. The bank's economists are projecting that credit growth will come down to somewhere around 12-13 per cent unless something happens on the deposit side, he added. It can be noted that at present, the system is witnessing a credit growth of around 17 per cent, as against a 9 per cent growth in deposits, which has triggered what some bankers refer to as a 'war for deposits' in the system. Chaudhry said the next 5-7 years look great for India. "We have to play the role of a tiger in this aggressiveness and be willing to crouch when certain opportunities come with inherent risks," he said, hinting that under him, the bank wishes to displace larger rival ICICI Bank from the number two spot and also go ahead of HDFC Bank in the future. Recalling a comment made by him when he took charge over three years ago, Chaudhry named ICICI Bank and said, "... I said I have not joined to remain number 3. I have joined Axis Bank to take this institution to a different level. Otherwise what is the point?" <keyword id="30067" type="General" weightage="50" keywordseo="rbi" source="Orion">RBI</keyword> Governor <keyword id="6359111" type="General" weightage="50" keywordseo="shaktikanta-das" source="Orion">Shaktikanta Das</keyword> had recently explained that the two numbers look divergent because of base effects, pointing out that last year the deposit growth was higher than the credit growth, and maintained that the higher rise in loans cannot be termed as exuberant. Apart from the base effects, Chaudhry attributed the higher credit growth to refinance and a shift to bank credit from other sources, and rued that corporations continue to be cautious. "... that sense of gung-ho feeling which the media seems to be talking about, or people are saying 'oh, India ... great things will happen', I am not seeing it yet. I think the corporates are still being very careful," he said. Acknowledging that a more diverse set of sectors are witnessing investments at present, he said much of the capital expenditure is directed towards acquisitions or acquiring market share, and is not aimed at greenfield expansion which is desirable from an economic growth perspective. "The tepid growth rate in wholesale (lending) has to take off at some stage, or the GDP growth will get impacted," he made it clear. Axis Bank has stayed away from some corporate loan bets because they were not coming at the right price point which the lender considers from a risk perspective, Chaudhry said, adding that there are five-seven banks, especially some state-run ones, which are willing to price the loans lower as they chase loan growth. "While we have cleaned up our act, in this desire and aspiration to grow all of us have to realize that today we might be making mistakes which would create not a new banking crisis, but create problems for banking going forward in the future," he said. He further added that "being a banker, we always look at risk all the time. In my mind, we need to add a dose of caution to this feeling of euphoria." SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/mfs-add-hdfc-reliance-industries-kfin-tech-sula-vineyards-in-december/articleshow/96963841.cms">MFs add HDFC, Reliance Industries, KFin Tech, Sula Vineyards in December</a> <a href="https://www.businessinsider.in/finance/news/indian-inc-expects-budget-fy24-to-cushion-economy-from-global-risks-deloitte-survey/articleshow/96967472.cms">Indian Inc expects Budget FY24 to cushion economy from global risks; optimistic FY23 GDP growth will be above 6.5%: Deloitte survey</a> <a href="https://www.businessinsider.in/stock-market/news/nifty50-set-to-clock-10-increase-in-profit-in-q3-banks-likely-to-outperform/articleshow/96956814.cms">Nifty50 set to clock 10% increase in profit in Q3; banks likely to outperform</a>

Credit expansion will taper down next year if deposits growth doesn't rise: Axis Bank MD

Mumbai, Apr 28 () Private sector lender Axis Bank on Tuesday formally joined peers to have a life insurance joint venture by announcing to raise its stake in Max Life Insurance, the fourth largest player in the life cover space, to 30 per cent for Rs 1,592 crore. The deal, which comes during bleak economic times as the country grapples with the impact of COVID-19 pandemic, was struck due to the opportunity in the life insurance space and also the price at which it could be sealed, Axis Bank's managing director and chief executive Amitabh Chaudhry said. Other large lenders, including HDFC Bank, ICICI Bank and SBI, and also smaller ones have life insurance joint ventures or have promoted companies themselves. According to experts, banks originate a lot of insurance business and "manufacturing" products is more rewarding than merely selling them. India's third largest private sector lender Axis Bank, which already has a minor 1 per cent ownership of the insurer, used to sell Max's policies for over a decade, which has seen 19 lakh customers and over Rs 38,000 crore in premium generated, Chaudhry said. A senior Axis Bank official said the deal includes picking up over 55 crore shares of the insurer at Rs 28.61 per unit, which takes the total deal consideration to Rs 1,592 crore, and underlined that the final figure may wary a bit depending on the date of deal closure. The deal requires nods from the Reserve Bank, Insurance Regulatory and Development Authority and Competition Commission of India, and will take up to six to nine months to consummate. When asked about the timing of the deal, Chaudhry defended the move pointing out to the "big opportunity" that is presented by the life insurance sector and the potential for the upside on the investment presented by the price at which it is signed. It can be noted that the Reserve Bank is pushing lenders not to declare dividends to conserve capital and deploy it for fresh lending, which will be necessary to kickstart the economy once the lockdown ends. Chaudhry said the Max stake buy will dent its overall capital adequacy, which stood at a comfortable level of over 17 per cent, by only 0.10 per cent. Max Life Insurance is a part of the listed Max Financial Services Ltd (MFSL), a diversified financial services company. In a regulatory filing, Max said that the consideration payable by Axis Bank for purchase of the shares shall be arrived basis the valuation of Max Life conducted as per Rule 11UA read with Rule 11UAA of the Income-tax Rules, 1962. Upon the closing of the deal, MFSL will have the right to nominate four directors on the Max Life board, while Axis Bank will have the right to nominate three directors. One nominee director of the promoter group on the board of MFSL shall be a person identified by Axis Bank. Chaudhry denied speculation about the stake being raised in the future by the bank, including murmurs of a complete takeover, saying there are no such plans. At present, products sold through the bank reportedly contribute for 54 per cent of Max Life's revenues. On February 20, a tri-party agreement was signed between Axis, MFSL and Max Life to explore the possibility of a long-term strategic partnership between Axis Bank and Max Life. At present, MFSL holds 72.5 per cent stake in Max Life and Japan-based Mitsui Sumitomo Insurance (MSI) owns 25.5 per cent stake. The proposed transaction with Axis Bank follows the ongoing swapping by MSI of 20.6 per cent stake that it holds in Max Life with a 21.9 per cent stake in MFSL, an official statement said. "MFSL also plans to purchase MSI's balance stake in Max Life. Post completion of the series of transactions, Max Life will become a 70:30 joint venture between MFSL and Axis Bank," it explained. Against the 30 per cent stake, Axis Bank's name will be included in Max Life's tag line. It is to be noted that Max Life had made an attempt to merge with HDFC Life in 2017 which failed as they did not receive regulatory approval due to reported complexity of the deal. Interestingly, the deal was then brokered by the then HDFC Life CEO Amitabh Chaudhry who is now the CEO of Axis Bank. Following failure of the deal, Max Group made several attempts to sell part of its stake. However, it did not meet success. MFSL shares gained 5.14 per cent to close at Rs 475.80 apiece on the BSE, while Axis Bank stock surged 6.61 per cent to close at 455.55 per unit, as against gains of 1.17 per cent on the benchmark. AA DP MKJ

Axis Bank to buy 29% stake in Max Life for Rs 1,592 crore

<ul><li><keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword>’s <keyword id="6406769" type="ORGANIZATION" weightage="20" keywordseo="aditya-puri">Aditya Puri</keyword> and Amitabh Chaudhry of Axis Bank are one of the highest paid Indian CEOs in the banking and finance industry. </li><li>HDFC is one of the only two banks ranking in the list of the most valued Indian brands at $4.8 billion, according to Forbes Magazine. </li><li>Following them are Uday Kotak of Kotak Mahindra Bank and ICICI Bank’s former MD and CEO among the top paid employees in the private sector banks.</li></ul>HDFC Bank’s Aditya Puri and Amitabh Chaudhry of Axis Bank are one of the highest paid Indian CEOs in the banking and finance industry. Following them are Uday Kotak of Kotak Mahindra Bank and ICICI Bank’s former MD and CEO among the top paid employees in the private sector banks. The rankings are based on the monthly remuneration of the employees, as per the company’s annual report released this year. <div type="Slideshow" msid="70657329" hostid="261" title="India' highest paid bank chiefs -- HDFC Bank's Aditya Puri tops the list" firstImageMsid="70657331" slideCount="7"></div>

India's highest paid bank chiefs -- HDFC Bank's Aditya Puri tops the list

Mumbai, Jun 15 () The third largest private sector lender Axis Bank on Monday said its executive director Pralay Mondal has resigned due to "personal compulsions" within one year of joining the bank. Mondal, who joined the bank in April 2019 from smaller rival Yes Bank and is widely credited with building HDFC Bank's highly successful retail franchise, was leading the retail segment at Axis Bank. "It is an unanticipated but unavoidable development owing to some personal compulsions," Mondal was quoted as saying in a bank statement. Sources within the bank said a search process to find Mondal's replacement is on and an internal candidate is most likely to succeed him. The bank's retail assets grew 24 per cent in 2019-20 as against the overall growth of 15 per cent, and accounted for 53 per cent of the bank's loan book. It also delivered 64 per cent of the overall fees, while the share of the low cost current and saving account balances delivered by the retail network stood at 39 per cent on a quarterly average basis. Mondal was handpicked by the bank's chief executive and managing director Amitabh Chaudhry as part of the leadership transformation at the lender. He succeeded Rajiv Anand, who was made the executive director for corporate or wholesale banking. Mondal's exit comes within months of the bank losing its chief financial officer Jairam Sridharan, who moved on to join as the chief executive of Piramal Enterprises' consumer finance business. There have also been reports of massive staff replacements at the lender under Chaudhry. In the statement, Mondal said Axis has a strong franchise and he will "admire" the business as it continues to grow in the years to come. Rajesh Dahiya, the bank's executive director for corporate centre said Mondal made "significant contributions" during his tenure, and added that the lender has a "strong leadership bench". AA RVK

Axis Bank's retail banking head quits citing "personal compulsions"

<ul><li><keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword> has been implementing structural rearrangements, under its Chief executive Amitabh Chaudhry leading to over 15,000 resignations in the last three quarters. </li><li>The bank, however, plans to hire at least 25,000 new ‘digitally-skilled’ employees in the next two years including freshers from IITs and ISB, it told Business Insider </li><li>This may be attributed to the bank’s transition to <keyword id="24019" type="PERSON" weightage="20" keywordseo="automation">automation</keyword>. Last year, it added an automation unit to its banking operations — hiring nearly 800 digitally-skilled employees. </li><li>It aims to add another 4,000 employees over the next three months — especially from the rural areas and tier 2 cities.</li></ul>Axis Bank Chief Executive Amitabh Chaudhry’s push for digitisation and automation has forced out 15,000 people from its ranks in the last 9 months. That’s nearly one in every five Axis Bank employees who have resigned. What is interesting is where Axis Bank is looking for replacements. “We have robust plans to add another 25,000 to 30,000 employees in Axis Bank and the subsidiaries in the next 2 year or so,” the company told Business Insider. This will include campus hires from B-schools like ISB (Indian School of Business) and IITs (Indian Institute of Technology). It will also hire from the <a href="https://www.businessinsider.in/careers/news/sbi-kotak-mahindra-and-axis-bank-are-going-digital-hiring-for-ai-analytics-and-other-tech-profiles/articleshow/72342982.cms">National Institute of Design</a> for the very first time. The bank statement also said that it has hired nearly 28,000 employees this fiscal. “This year, we have also focused on hiring in risk, compliance and cybersecurity roles,” the head of Human Resources, <a href="https://economictimes.indiatimes.com/jobs/kotak-mahindra-axis-bank-to-recruit-5000-fresh-grads/articleshow/72340847.cms?from=mdr">Rajkamal Vempati, told the Economic Times</a>. This is the big change at Axis Bank The bank has developed a library of 2,000 courses for its employees, as a part of their learning and development initiatives. But not everyone is ready to upgrade. “With the complete overhaul of the way the bank functions, many are left wondering about their roles. While many old-timers are feeling a bit of discomfort with the cultural change,” the Economic Times <a href="https://economictimes.indiatimes.com/industry/banking/finance/banking/15000-staff-quit-in-a-few-months-as-axis-bank-revamps-functions/articleshow/73147634.cms">reported</a>. Last year, it added an automation unit to its banking operations — hiring nearly 800 digitally-skilled employees in areas such as big data and analytics, IT, process automation — AI, Robotics and Cyber Security. Other jobs on the anvil India’s third-largest private bank aims to add another 4,000 employees over the next three months, especially from the rural areas and tier 2 cities, as 550 new branches are set to open. See also: <a href="https://www.businessinsider.in/careers/news/benching-firing-and-re-deploying-the-story-of-20000-employees-at-tech-majors/articleshow/71934414.cms">Benching, firing and re-deploying — the story of 20,000 employees at tech majors</a> <a href="https://www.businessinsider.in/careers/news/sbi-kotak-mahindra-and-axis-bank-are-going-digital-hiring-for-ai-analytics-and-other-tech-profiles/articleshow/72342982.cms">SBI, Kotak Mahindra and Axis Bank are going digital — hiring for AI, analytics and other tech profiles</a>

After 19% attrition, Axis Bank is headed to IITs, ISB and National Institute of Design for hiring

IL&amp;FS: NCLT threatens to get Axis Bank, StanC CEOs arrested
Mumbai, Nov 25 () The Mumbai NCLT on Monday issued
an ultimatum to the CEOs of Axis Bank and Standard Chartered
Bank to be personally present at the next hearing, failing
which it will direct the authorities to issue nonbailable
warrants against them in a case relating to the IL&amp;FS case.
An NCLT bench headed by Bhaskara Pantula Mohan issued
the ultimatum while hearing a contempt petition against
Amitabh Chaudhry and Zarin Daruwala of Axis Bank and StanChart
India, respectively, for not being personally attending the
hearings so far.
The tribunal has fixed the next date of hearing on
December 16 and asked Chaudhry and Daruwala to be present. The
bench noted that both these bankers never presented themselves
before the bench since the issue surfaced last December.
The case relates to these banks allowing ex-head of
ILFS Financial Services Ramesh Chandra Bawa and his family
withdraw money from their accounts with these banks and also
accessing the lockers even after these accounts were frozen by
the tribunal.
But the banks had submitted that the particular
transactions took place before they got the copy of the
tribunal order freezing these accounts.
The tribunal froze these accounts on December 3, 2018.
Following this, the contempt notices were issued these
three after the corporate affairs ministry had alleged that
the banks facilitated Bawa to withdraw/transfer money from
their accounts to his wife Ashakiran and daughter Akansha,
apart from letting him access the lockers.
Following this, on April 26, 2019, the NCLT issued
contempt notices to Chaudhry and Daruwala. Later it also
issued a similar contempt notice Bawa for not following its
directions.
The ministry also informed the tribunal that Bawa
withdrew/transferred Rs 1 crore and Rs 14 lakh from Axis Bank
accounts in two instances violating the December 3, 2018 NCLT
order freezing the accounts.
The ministry counsel had also said Bawa accessed his
lockers with these bank four times since December 3.
While freezing the accounts, the NCLT on December 3
had also restrained former directors of IL&amp;FS Group from
disposing of or creating any third-party rights on their
properties. SM
BEN BEN

NCLT-ILFS

<ul><li>SBI Chairman Rajnish Kumar said that <keyword id="45051" type="PERSON" weightage="20" keywordseo="Uday-Kotak">Uday Kotak</keyword> is best suited to acquire <keyword id="45660" type="DOMAIN" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword>. </li><li><keyword id="6355975" type="DOMAIN" weightage="20" keywordseo="axis-bank">Axis Bank</keyword>'s Managing Director and CEO Amitabh Chaudhry too suggested that <keyword id="46013" type="COMPANY" weightage="20" keywordseo="Kotak-Mahindra-Bank">Kotak Mahindra Bank</keyword> is the right candidate. </li><li>According to some watchers, acquiring a bank can help Uday Kotak reduce the promoter stake in his bank, and meet RBI guidelines. </li></ul>Two of India's top bankers on Tuesday opined that Kotak Mahindra Bank (KMB) is best suited to acquire smaller and capital-starved rival Yes Bank.
Yes Bank's capital buffers have dipped on accelerated non performing assets recognition under new chief executive Ravneet Gill earlier this year.
 The private sector lender's capital raising plan is also passing through uncertainties and there are speculations on whether Yes Bank is an acquisition target, which has been denied by its management.
 "I think Uday (Kotak) is the best candidate to acquire Yes bank. You need deep pockets, Uday has that," SBI Chairman Rajnish Kumar said at Times Network's India Economic Conclave here.
 When the same question was posed to third-largest lender Axis Bank's Managing Director and CEO Amitabh Chaudhry, it was answered with the same suggestion.
 "We (Axis Bank) are a smaller bank. We are trying to ensure that we grow big so that at some stage we can acquire others. So, yes Mr Kotak, they are best suited rather than us," he said. In the past, both Axis Bank and KMB have been discussed as potential suitors for Yes Bank.
 According to some watchers, acquiring a bank can help Uday Kotak reduce the promoter stake in KMB, and help him get closer to the levels mandated by the RBI.
 The regulator has been dragged to the court by KMB for not accepting an earlier attempt at stake dilution and the same petition is slated to be heard early next year.
 Meanwhile, speaking at the same event, Kotak said there is a need to resist a "colonialisation" of Indian finance, hinting at share sales to foreign investors.
 "I'm looking forward to best in class quality but strong Indian owned and controlled financial sector and while we must attract foreign capital, we must ensure that there is no colonialisation of Indian finance," Kotak said.
 Yes Bank had to cut its book size by 7 per cent in the September quarter because of the capital constraints and has been looking to finish the capital raising exercise at the earliest.
 It had first announced it has interest from investors of USD 3 billion, and a few days later disclosed offers of USD 2 billion. It wanted to finalise the same at the last board meet on December 10 but could not.
 Yes Bank's share price plummeted to Rs 32 apiece in October as against a high of Rs 400 just a year ago, and has been one of the most volatile scrips on the bourses where the price is governed by frequent news flows and speculation.

Uday Kotak has pockets deep enough to acquire Yes Bank, say top bankers

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

Pralay Mondal to join CSB Bank as head of retail biz

New Delhi, Apr 14 () Donation platform GiveIndia on Tuesday said it has launched the 'India COVID Response Fund' (ICRF) with initial donations worth Rs 75 crore to support the on-ground COVID relief efforts being carried out by its network of verified non-profits.Some of the early donors to the fund include the Bill &amp; Melinda Gates Foundation, Google.org, HSBC India, Omidyar Network India, UBS Optimus Foundation, Marico, Uber India (through Uber Care driver fund), Binny Bansal and A.T.E. Chandra Foundation.The fund will use a data-backed approach to identify the most critical areas of intervention and scale the relief efforts pan India, a statement said.The donation platform is aiming at creation of a larger corpus that can support up to 10 million people nationally, it added."Since we started fundraising for COVID relief work on March 22, we have received donations from more than 2 lakh people globally, raised Rs 75 crores, partnered with over 40 organisations, onboarded more than 100 non-profits, and these initial efforts will impact one million people," GiveIndia Director and ICRF Advisor Govind Iyer said.However, the on-ground requirement is much larger and the fund is an open platform for all to come together and support the most critical need of the hour, he added.Other partners in the collective are CSIP (Centre for Social Impact and Philanthropy) from Ashoka University, Bridgespan, Indiaspora, Sattva, Dasra and IIFL Wealth, the statement said.An expert advisory group has been set up to guide fundraise and allocations, including Dr Devi Shetty, (Chairman, Narayana Health), Kiran Mazumdar-Shaw (Chairman, Biocon), Sanjiv Mehta (Chairman, HUL), Surendra Rosha (CEO, HSBC India), Binny Bansal (Co-founder, Flipkart), Manoj Kohli (Country Head, Softbank) and Amitabh Chaudhry (CEO, Axis Bank).Shilpa Kumar (Investment Partner, Omidyar Network India), Ingrid Srinath (Director, CSIP, Ashoka University), Arun Seth (former Chairman-BT), Amita Chauhan (Chairperson, SVP Mumbai), Shailesh Haribhakti (CA), Haigreve Khaitan (Managing Partner, Khaitan &amp; Co), V Vaidyanathan (MD &amp; CEO, IDFC First Bank), Neeraj Aggarwal (Head APAC, BCG) and Karan Bhagat (MD &amp; CEO, IIFL Wealth) are also part of the effort."ICRF will focus on preventing the spread of the coronavirus, providing humanitarian aid, supporting our health workers and enabling the COVID-hit families to rebuild their livelihoods. GiveIndia will be working with and supporting non-profits across health, disaster relief, rural livelihoods, etc including Akshaya Patra, Goonj, HelpAge India, ActionAid, Oxfam, CRY, Srijan and many others through this fund," the statement said. SR RSN RUJ

GiveIndia starts India COVID Response Fund with Rs 75 cr in initial donations

New Delhi, Dec 17 () Shares of Yes Bank on Tuesday gained nearly 2 per cent in-line with a broader market trend, registering its fourth consecutive day of rally.
 The scrip jumped 1.71 per cent to close at Rs 47.60 on the BSE. During the day, it went up by 2.88 per cent to Rs 48.15.
 On the NSE, it rose 1.81 per cent to close at Rs 47.65.
 In fours days, the scrip has gained over 11 per cent.
 On traded volume front, 71.01 lakh shares of the company were traded on the BSE and over 13 crore shares on the NSE during the day.
 Market benchmarks Sensex and Nifty soared to new peaks on Tuesday. The 30-share BSE barometer settled 413.45 points, or 1.01 per cent, higher at its all-time high of 41,352.17. Similarly, the broader NSE Nifty rallied 111.05 points, or 0.92 per cent, to its record closing high of 12,165.
 Meanwhile, two of India's top bankers on Tuesday opined that Kotak Mahindra Bank (KMB) is best suited to acquire smaller and capital-starved rival Yes Bank.
 "I think Uday (Kotak) is the best candidate to acquire Yes Bank. You need deep pockets, Uday has that," SBI Chairman Rajnish Kumar said at Times Network's India Economic Conclave in Mumbai.
 When the same question was posed to third-largest lender Axis Bank's Managing Director and CEO Amitabh Chaudhry, it was answered with the same suggestion.
 "We (Axis Bank) are a smaller bank. We are trying to ensure that we grow big so that at some stage we can acquire others. So, yes Kotak, they are best suited rather than us," he said.
 Yes Bank's share price plummeted to Rs 32 apiece in October as against a high of Rs 400 just a year ago and has been one of the most volatile scrips on the bourses.
 The company's capital buffers have dipped on accelerated non-performing assets recognition under new chief executive Ravneet Gill earlier this year.
 The private sector lender's capital raising plan is also passing through uncertainties and there are speculations on whether Yes Bank is an acquisition target, which has been denied by its management. SUM SHW
SHW

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