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<ul><li>Hiring trend in India’s banking and insurance sector is bouncing back after the disruption caused by the global COVID-19 pandemic.</li><li>A recent report by online job platform Monster.com says that the finance and accounts sector saw an uptick of 11% in job postings in the month of June 2021.</li><li>List of job hirings in big banks for various roles in India</li></ul>The banking, financial services and investment (BFSI) sector is one of the most crucial sectors, as it is at the core of any economy's growth. Hiring trend in India’s banking and insurance sector is bouncing back after the disruption caused by the global COVID-19 pandemic and has shown a recovery from their recent slump, according to a May 2021 report by Naukri Jobspeaks. A recent report by online job platform Monster.com says that the finance and accounts sector saw an uptick of 11% in job postings in the month of June 2021 as compared to May 2021. Here is a list of job hirings in big banks for various roles in India — 1. <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">YES Bank</keyword> — Manager YES bank is hiring a manager in Kochi, Kerala in the large corporates south department for a full time role. Candidates should have a Master of Business Administration (MBA) degree. The selected candidate will have to closely coordinate with the team leaders to ensure they effectively address the client's financial needs as when required structuring and restructuring needs. Interested candidates can apply <a href="https://yesbankcareers.skillate.com/careers/jobs/LAR00001A/details">here</a>. 2. <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword> — Manager — Corporate and Commercial banking The bank is looking for a manager in Mumbai, Maharashtra for Corporate and Commercial banking department for a full time position. Candidates applying for this role should have an MBA or a post graduate diploma in management (PGDM) in any discipline or be a chartered accountant (CA) and have at least more than 2 years of industry experience. The key responsibility of the selected candidate would be to identify new business opportunities for the bank in the India-Canada corridor. Interested candidates can apply <a href="https://www.naukri.com/job-listings-manager-corporate-and-commercial-banking-icici-bank-ltd-mumbai-all-areas-5-to-10-years-150721005357?src=jobsearchDesk&amp;sid=16269185081622849_1&amp;xp=1&amp;px=2">here</a>. 3. <keyword id="6355975" type="COMPANY" weightage="20" keywordseo="axis-bank">Axis Bank</keyword> — Relationship Officer The bank is looking out for a relationship manager in Bhopal, Indore, and Raipur with1-5 years of job experience. Candidates from banking, financial services and insurance (BFSI) are preferred.The responsibility of the candidates would be to manage sales of banking products and fulfilling needs and develop sales targets. Interested candidates can apply <a href="https://www.naukri.com/job-listings-relationship-officer-axis-bank-bhopal-indore-raipur-1-to-5-years-250621005469?src=jobsearchDesk&amp;sid=16269215796571287&amp;xp=1&amp;px=1">here</a>. 4. <keyword id="6357149" type="COMPANY" weightage="20" keywordseo="hdfc-bank">HDFC Bank</keyword> — Branch Sales Manager The bank is recruiting a branch sales manager in Bengaluru, Karnataka for a full time position. The candidate must have 2-3 years of relevant experience and should have basic knowledge of banking products, good relationship management and presentation skills. The key responsibility of the candidate would be to maintain continuous customer engagement through customer visits/ contacts or proactive solutions of customer issues and queries. Interested candidates can apply <a href="https://hdfcbankcareers.hirealchemy.com/#/description/9f26acee-5186-40aa-822e-39eeba0b7a20">here</a>. 5. Axis Bank — Branch Manager The bank is hiring branch managers at various places — Ludhiana, Shimla, Kurukshetra and Jammu for a full time role. The candidates should have an experience of at least 8-13 years in the banking sector. The key responsibilities of the candidates would be to enhance and contribute to the growth of the company through business development, prepare and review the monthly calendar of outbound activities. Interested candidates can apply <a href="https://www.naukri.com/job-listings-branch-manager-icici-bank-ltd-ludhiana-shimla-kurukshetra-jammu-8-to-13-years-100721001674?src=jobsearchDesk&amp;sid=16269215796571287&amp;xp=16&amp;px=1">here</a>. 6. YES Bank — Product Sales Manager The bank is looking for an experienced product sales manager for retail cash management services (CMS) sales department in Mumbai, Maharashtra for a full time position. The candidate should be an MBA in finance or CA and should have at least 3-4 years of experience in CMS or 5-7 years of experience in the banking industry. The candidate will be responsible for the steady flow of CMS management service businesses. Interested candidates can apply <a href="https://yesbankcareers.skillate.com/careers/jobs/RET0001AA/details">here</a>. 7. ICICI Bank — Sales/Business Development Manager The bank is hiring an experienced sales/business development manager for the corporate market group at various locations -- Ranchi, Ahmedabad and Chennai for a full time role with an experience of 10-16 years in the industry. The key responsibility of the candidates would be to handle existing customer relationships, increase wallet share of cross border transactions. Interested candidates can apply <a href="https://www.naukri.com/job-listings-corporate-market-group-icici-bank-ltd-ranchi-ahmedabad-chennai-10-to-16-years-150721001928?src=jobsearchDesk&amp;sid=16269215796571287&amp;xp=9&amp;px=1">here</a>. 8. Federal Bank — Insurance Relationship Manager The bank is hiring an insurance relationship manager for Ageas Federal Life Insurance at various locations — Bengaluru, Coimbatore, Bijapur and Belthangady for a full time role. The candidate must have a postgraduate degree in any discipline with a relevant experience of at least 2-4 years in the insurance sector. Interested candidates can apply <a href="https://www.naukri.com/job-listings-relationship-manager-banca-channel-federal-bank-ageas-federal-life-insurance-company-limited-vijayapura-bijapur-beltangadi-coimbatore-bangalore-bengaluru-1-to-3-years-100721003321?src=jobsearchDesk&amp;sid=16269268509135267&amp;xp=3&amp;px=1">here</a>. 9. HDFC Bank — Personal Banker The bank is hiring a personal banker with an experience of at least 1-2 years in the industry in Ludhiana, Punjab. The key responsibility of the candidate would be to maintain daily sales reports and ensure quality of relationships with customers. Interested candidates can apply <a href="https://hdfcbankcareers.hirealchemy.com/#/description/a6e6f134-54a8-4ea8-a60d-a5e5b0b60c6e">here</a>. 10. IndusInd Bank — Sales Manager The bank is looking for a sales manager with an experience between 2-7 years in the banking industry at various locations — Delhi, Ghaziabad and Agra for a full time position. The key responsibility of this position would be to identify and develop new relationships for generating new business through dealers. Interested candidates can apply <a href="https://www.naukri.com/job-listings-am-dm-commercial-vehicle-new-refinance-delhi-up-west-indusind-bank-limited-delhi-ncr-ghaziabad-agra-2-to-7-years-291118600523?src=jobsearchDesk&amp;sid=16269281082683911&amp;xp=2&amp;px=1">here</a>. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/education/news/these-are-some-of-the-universities-that-offer-free-education-for-international-students/slidelist/84463712.cms">Planning to study abroad? These are some of the universities that offer a free education for international students</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/travel/news/indians-planning-to-travel-more-as-covid-19-restrictions-relaxed-in-many-states/articleshow/83867486.cms">Indians are making big plans of ‘revenge travel’ as COVID-19 restrictions get lifted in many states</a>

Banking jobs: HDFC Bank, Axis Bank, ICICI Bank and more are hiring across the country for various roles

<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%

Mumbai, Mar 6 () Even as the RBI and the government are assuring the public of their money being safe in Yes Bank, depositors continue to queue up outside branches of the troubled private lender.Several customers are now contemplating opening up new accounts in other banks.There were cases of heated exchange between bank staff and customers, who failed to withdraw money.On Thursday, the Reserve Bank of India (RBI) superseded the board of Yes Bank and imposed a 30-day moratorium after the Rana Kapoor-promoted bank failed to raise capital to address potential loan losses.The bank's depositors are allowed to withdraw cash up to Rs 50,000 from their accounts during the 30-day moratorium period, according to a government gazette.The withdrawal limit, however, can be relaxed up to Rs 5 lakh in case of medical emergencies, higher education and for expenses related to marriages, it said.The rush to withdraw money from the bank continued despite Finance Minister Nirmala Sitharaman, Chief Economic Advisor Krishnamurthy Subramanian and Reserve Bank Governor Shaktikanta Das trying to allay the fear among the depositors."Our salary gets credited on 21st of every month. I am a little worried about my upcoming salary as I have a salary account with Yes Bank. I am going to provide details of my other bank account to HR today so that my money doesn't get blocked," said an MNC employee who was standing in a queue at one of the branches in suburban Mulund.Pradeep Kumar, an engineer by profession, working with a large real estate developer, said, "I have some money right now but I have come to withdraw more since it is the beginning of the month and there are some payments lined up."Kumar had tried to withdraw money yesterday night but ATM went dry before his turn came. Yes Bank has 1,000 branches across the country.To streamline the withdrawal process, some of the branches are giving limited tokens to the customers."The branch manager has refused to give me a token since I reached late. They are giving tokens to up to 130 people," said a customer who was seen fighting with the manager of the branch in suburban Mumbai.Security was also tightened at the bank's headquarters, its branches and ATMs across the city. It's not just salaried customers, but entrepreneurs and small businessmen are also affected."We are a start-up having a current account with the bank. We recently raised money from investors which is lying in the account but we are unable to use it," said a customer who came to a branch in Powai to withdraw cash. He said the company gave salaries to employees two days back but there are payments to be made to vendors."Our clients make payments to us which get deposited into our current account with the bank. We are now sending out communications to our clients not to make payments to our present account," said a visibly disturbed customer who has an IT hardware business.Amidst all of this, she is also trying to get her current account open with other bank so that her clients can transfer the money.One customer at the Kharghar branch said he hopes the country's largest lender State Bank of India will not allow the bank to fail. On Thursday, the SBI board gave its "in-principle" approval to exploring investment opportunities in Yes Bank.The customers said even the mobile and internet banking are shutdown.There was a posse of security men outside the RBI headquarters at Mint Road, which has experienced protests by depositors during the PMC Bank crisis in the recent past.Diagonally opposite, at a Yes Bank branch, a huge stream of depositors could be seen queued up to withdraw their money.At a bank's branch in Colaba, there were similar scenes with a longish queue of depositors.Yes Bank's share tanked 56 per cent to end at Rs 16.20 apiece on the BSE on Friday.While talking to reporters in New Delhi, the Finance Minister said she was in continuous interaction with the RBI who are fully seized of the matter and has assured for a quick resolution."I want to assure every depositor that their money shall be safe. Their monies are safe," she said.The RBI Governor said the resolution of the bank will be done very swiftly."Thirty days which we have given is the outer limit. You will see a very swift action from RBI to put in place a scheme to revive Yes Bank," Das told reporters here.Chief Economic Advisor Krishnamurthy Subramanian also said all options are under consideration for restructuring Yes Bank and assured that depositors' money is safe.This situation reminds one of the plights of depositors of Punjab and Maharashtra Cooperative Bank six months ago.The customers of Mumbai-based urban cooperative bank also went through a similar hardships after the RBI, in September 2019, had superseded the board and the management of the bank.The central bank had put a six-month regulatory restriction on the cooperative bank after it found out certain financial irregularities, hiding and mis-reporting of loans given to real estate developer HDIL.The restriction included barring PMC Bank from lending and accepting fresh deposits. HV BEN AA DC MKJ

Assurances aside, Yes Bank customers queue up outside branches

New Delhi, Mar 6 () Distress calls and long queues of customers were witnessed at various branches of Yes Bank after the Reserve Bank of India put a withdrawal limit of Rs 50,000 on Thursday, as the cash-starved private sector lender comes under moratorium for one month. The bank's board has been superseded by RBI-appointed administrator Prashant Kumar, former deputy managing director and chief financial officer of State Bank of India. On Thursday, the RBI in consultation with the Union government superseded the bank's board of directors due to serious deterioration in the bank's financial position. "This has been done to quickly restore depositors' confidence in the bank, including by putting in place a scheme of reconstruction or amalgamation," the RBI said in a late-night communication on Thursday. It also appointed Kumar as the bank's administrator under Section 36ACA (2) of the Banking Regulation Act, 1949. A moratorium of 30 days has been imposed on the cash-strapped Yes Bank, restricting withdrawals up to Rs 50,000 per depositor. While customers complained about net banking not working, many resorted to microblogging site Twitter to express anguish that they were not able to withdraw money, posting screenshots that they were getting "connection error". One of the customers wrote on Twitter that he wants to close his savings account but "how can I do it online?". "We are facing intermittent issues in net banking. Request you to please try after some time," Yes Bank said in response to the tweet. The Mumbai-headquartered private sector bank has also changed its toll-free phone banking number to 18001200 from 18002000. However, it seems that the sense of crisis started brewing among the customers even before the RBI's Thursday move as messages dating back to March 3, 4 or before could be traced on the bank's twitter handle, customers complaining about banking issues with some even resorting to leaving their personal mobile numbers there, asking the bank to revert them back "ASAP". Besides, the bank is also reported to be sending out messages to customers updating them about bank balances. A customer of the bank said he faced no problem on Thursday night while transacting through his debit card at a fuel-refilling station. Even as Finance Minister Nirmala Sitharaman assured the bank's depositors that their money is safe and the RBI is working on an early resolution of the issue, RBI Governor Shaktikanta Das assured swift resolution to the issues concerning the beleaguered lender. "The resolution (for Yes Bank) will be done very swiftly, it will be done very fast. Thirty days which we have given is the outer limit. You will see a very swift action from the RBI," Das told reporters at a banking event in Mumbai. KPM CS HRS

Distress calls, long queues at branches of Yes Bank post withdrawal limit

New Delhi, Mar 7 () Panicked Yes Bank customers were seen queuing up at the bank's ATMs at various locations, but to no avail as as most cash-dispensing machines ran dry, after the Reserve Bank placed the crisis-hit lender under a moratorium. However, many a customers said they were able to withdraw the stipulated amount of Rs 50,000 through cheques at Yes Bank branches. Customers are also facing trouble because net banking services are not working and some even complained that their credit cards are also not working. As the Reserve Bank has superseded the board of the private sector lender on a precarious financial condition and has appointed a former SBI executive as its administrator, customers cannot withdraw more than Rs 50,000 under the moratorium period till April 3, 2020. Several customers at a bank branch in central Delhi said they faced no problem while withdrawing the sum of Rs 50,000 through cheques. "Internet banking is not working, even the credit card has stopped working; however, I withdrew my amount through cheque," said Lalit Kumar, a Yes Bank customer of its Gole Market branch here. At an ATM in Ghaziabad, Yes Bank customers queued up to withdraw money, but to no avail as there was no cash. Most of the Automated Teller Machines (ATMs) wore a deserted look due to non-availability of cash. A Delhi-based customer said he was able to withdraw limited cash of about Rs 3,000-4000 only from an ATM, adding the cheque withdrawal helped him take out the remaining amount under the moratorium restriction. However, a display at the Post Office situated at Parliament Street read: "No Yes Bank cheques will be cleared until further orders from the RBI." Besides, people also complained that Yes Bank facilitated meal cards are not working. Payment facilitator for small businesses Instamojo's CEO &amp; Co-founder Sampad Swain said the company will be temporarily withholding payouts to merchants having Yes bank accounts until further clarity on the situation. "This is to ensure that no merchant's funds get blocked. As an alternate, we have provided our merchants the option to change their registered bank from Yes bank to another account," Swain said. To soothe the hassled customers, Yes Bank's administer Prashant Kumar in a statement issued on Friday said that there was no need for panic and the bank was working to bring the situation under control before April 3 -- time till when the moratorium remains in place. "The current moratorium has been brought into effect keeping the depositors' interest in mind and towards restoring their confidence. "A solution is being worked upon to revive the Bank well before the moratorium period of thirty days ends. The bank is also taking necessary steps to ensure seamless transactions for the customers. We assure the depositors that their money is safe and there is absolutely no reason to panic," Kumar said. Fintech start-up in payment and transaction technology space PayNearby said: "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." "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," said Anand Kumar Bajaj, MD &amp; CEO, PayNearby. Yes Bank also said it remains available to address all queries and clarifications. Depositors are requested to get in touch with the nearest branch for any assistance. "We would like to inform you that our ATMs are now functional. You can locate the ATM nearest to you here: https://community.yesbank.in," read the Yes Bank tweet, tagging the twitter handles of the Finance Ministry and the Reserve Bank. "Our working hours are Monday-Saturday (9 am to 8 pm)," it added. Stock of Yes Bank came under heavy selling pressure on Friday and plunged by more than 84 per cent intra-day before closing the day down by 56 per cent at Rs 16.20 apiece on BSE. Country's largest lender SBI, which has evinced interest for 49 per cent stake in the private sector lender, said it is evaluating the draft reconstruction scheme for Yes Bank. "We have received draft scheme of reconstruction for Yes Bank. Our investment and legal team is doing due diligence," Chairman Rajnish Kumar told reporters in Mumbai on Saturday. Bank officials are doing due diligence of the draft scheme, he added. He also said many potential investors have approached SBI after seeing the draft scheme On Friday, the RBI announced a draft scheme of reconstruction for cash-starved Yes Bank. In its draft 'Yes Bank Ltd. Reconstruction Scheme, 2020', RBI said the strategic investor bank will have to pick up 49 per cent stake and it cannot reduce holding to below 26 per cent before three years from the date of capital infusion. KPM MKJ

Yes Bank customers scramble for cash withdrawal at branches, most ATMs run dry

<ul><li>YES Bank is looking to hire after its workforce shrank by 1,000 employees since March. </li><li>The private sector bank is mostly looking to hire for digital, marketing and credit underwriting. </li><li>In an exclusive interview with Business Insider, <keyword id="2643328" type="ORGANIZATION" weightage="20" keywordseo="Yes-Bank-CEO">YES Bank CEO</keyword> and MD Prashant Kumar shares what the bank is looking for in its hunt for new talent.</li></ul>The number of total employees at YES Bank has come down by almost 1,000 since March, but that is at par with the private sector entity’s natural rate of attrition seen every year. The good news is that it's on the hunt for new talent with an impetus on digitalisation, marketing and credit underwriting. “Wherever there is a shortage, we are hiring,” said YES Bank’s CEO and Managing Director Prashant Kumar in an exclusive interaction with Business Insider on a #HangoutwithBI Twitter live. The dip in the bank’s workforce was not because of layoffs, but because people had quit voluntarily. “Some of them had put in their papers in early 2020. We did not replace them,” said Kumar. According to him, YES Bank is now looking to push on digitisation, which has become more relevant in the COVID-19 era. “We have tried to streamline processes. With less number of workforce, we’re able to do more,” he said. <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Transactions </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Percentage </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Digital channels </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">90% </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Bank branches </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">10% </td></tr></tbody></table> YES Bank also pivoted to adopt a method to digitally onboarding customers, both in terms of liabilities and on the loan side, due to COVID-19. “Customers can open a digital account through video KYC. With very few employees and small costs we are able to acquire,” said Kumar. YES Bank is hiring Most companies, YES Bank included, weren’t too aggressive about hiring when the coronavirus pandemic initially broke. The reason YES Bank is back on the wagon is that it wants to grow and have the right people in place before the next financial year kicks off. “Hiring is something that takes a little bit of time in terms of getting the right kind of person, onboarding, and getting the person ready for the specific role,” explained Kumar. Employment opportunities and job vacancies at the bank can be found on its <a href="https://www.yesbank.in/work-with-us/career-opportunities">official website</a>. YES Bank is looking for candidates who are innovative, have basic skills, work hard, would like, and to pursue a career in banking. However, Kumar points out that a certain minimum level of experience is required. Here’s a quick look at some of the posts that YES Bank is looking to fill: <table style="border-width: initial; border-style: none; width: 468pt; table-layout: fixed;"></colgroup></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Post </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Department </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Location </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Senior Vice President </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business and Digital Technology Solutions Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vice President </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business and Digital Technology Solutions Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant Vice President </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business and Digital Technology Solutions Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Senior Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Business and Digital Technology Solutions Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai, Gurgaon </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Senior Vice President </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Central Data and Analytics Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vice President </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Central Data and Analytics Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Assistant Vice President </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Central Data and Analytics Group </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Executive Vice President </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Vice President </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Mumbai </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Credit Quality Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Lucknow, Kolkata </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Regional Credit Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Zonal Credit Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Delhi </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Area Credit Manager </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Risk Management </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Kolkata </td></tr></tbody></table> SEE ALSO: <a href="https://www.businessinsider.in/science/space/news/jeff-bezos-blue-origin-is-eyeing-the-commercial-space-station-business-wants-nasa-as-one-of-its-first-customers/articleshow/78272862.cms">Jeff Bezos' Blue Origin is eyeing the commercial space station business — wants NASA as one of its first customers</a> <a href="https://www.businessinsider.in/science/space/news/school-bus-sized-asteroid-is-scheduled-to-make-its-closest-approach-to-earth-on-september-24/articleshow/78271529.cms">A school bus-sized asteroid will make its closest approach to Earth tomorrow — safely zooming past the planet</a> <a href="https://www.businessinsider.in/tech/enterprise/news/microsoft-acquires-exclusive-license-for-elon-musks-largest-gpt-3-ai-language-model/articleshow/78269391.cms">Microsoft acquires exclusive license for Elon Musk’s largest GPT-3 AI language model</a>

EXCLUSIVE: YES Bank's workforce shrank by 1,000 employees since March but now it's hiring again for the coming year

<ul><li>Prashant Kumar, who has been appointed as the administrator for <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">YES Bank</keyword> by the <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword>, told CNBC-TV18 that the withdrawal limit could be lifted by March 15. </li><li>He added that things could be stabilised by April 3.</li><li>Meanwhile, State Bank of India Chairman Rajnish Kumar said that in terms of a value creation perspective, a merger with YES Bank would have been negative for SBI. </li></ul>The Reserve Bank of India imposed withdrawal limit of ₹50,000 on YES Bank could be lifted as soon as in a week, say <a href="https://www.moneycontrol.com/news/business/yes-bank-crisis-withdrawal-cap-may-be-lifted-as-early-as-march-15-confirms-prashant-kumar-5016281.html">reports</a>. Prashant Kumar, who has been appointed as the administrator for YES Bank by the RBI, told CNBC-TV18 that the withdrawal limit could be lifted by March 15, while things could be stabilised by April 3. Kumar said that SBI is not going to ask for extra capital from the government and that there is no connection between safety of deposits and market capitalisation. Promoters will pay but why should entity suffer: SBI chairman In an interview with <a href="https://twitter.com/ndtv/status/1236984649164845056">NDTV,</a> State Bank of India Chairman Rajnish Kumar said, “You take action against the promoter, but that doesn’t mean you close YES Bank down. There are employees, there’s a detailed franchise, there are 1200 odd branches… If the promoters have done something wrong then they will pay the price for that but why would the entity suffer?” Talking about how the SBI is a co investor in YES Bank and why there was not a merger, Kumar said that in terms of a value creation perspective, a merger would have been negative for SBI. When the order came in on Thursday (March 5), people hurried to transfer money in netbanking or from the YES Bank app, but both services were down from Thursday night. Serpentine queues started building up in front of YES Bank ATMs. And, even fintech companies in India took a hit. "I think for us, the first priority is the customers and how to provide the seamless business to our customers and like you must have seen on the very first day, all our ATMs were up for the customers," Kumar said to CNBC TV18. Even before the RBI action, the Mumbai-headquartered lender deferred announcement of its earnings for the third quarter of 2019-20 to March 14 or before. "I think we are going to declare our results on March 14th," Kumar said. With inputs from PTI See Also: <a href="http://businessinsider.in/business/news/the-fall-of-yes-bank-founder-rana-kapoor-from-a-billion-dollars-to-facing-a-4300-crore-investigation/articleshow/74547669.cms">The fall of Yes Bank founder Rana Kapoor from a billion dollars to facing a ₹4300 crore investigation</a> <a href="https://www.businessinsider.in/finance/news/rana-kapoors-daughters-who-said-no-to-banking-are-now-in-the-dock-with-yes-bank-crisis/articleshow/74549729.cms">The three Kapoor sisters who said ‘no’ to banking are now in the dock with Yes Bank crisis</a>

YES Bank moratorium could be lifted within a week, says RBI-appointed administrator

In the aftermath of <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> crisis, Private sector lender <keyword id="2179992" type="COMPANY" weightage="20" keywordseo="RBL-Bank">RBL Bank</keyword> on Wednesday said it is "well capitalised" and there is no adverse change in its asset quality. The statement comes in the wake of the Yes Bank crisis, following which stock prices of various banks went sharply down. "The management of RBL Bank wishes to address the prevailing concerns around the bank which is based on misinformation, and warrants clarification," it said in a statement. The lender further said that: "We wish to re-emphasize that RBL Bank is a fundamentally strong institution. Rumours around financial health and stability of the institution especially in social media seem to be misplaced, motivated and not based on facts". The bank said it is well capitalised, has healthy liquidity, growth is on track and management remains firmly committed. "There has been no material adverse change in the asset quality since we announced our Q3 financial results on January 22, 2020 and our guidance remains consistent," the bank said. The bank further said that it has a capital adequacy ratio of 16.08 per cent with Tier-1 at 15.02 per cent (significantly higher than the prescribed regulatory requirement at 11.5 per cent and 9.5 per cent respectively). "All our business segments are doing well, we continue to expand presence across newer geographies by adding branches and are also hiring more people as previously planned," the statement said adding that the bank continues to attract additional deposits from retail, corporates and institutional segments. Shares of RBL Bank were trading at Rs 230.25, higher by 10.80 per cent over its previous close in early trade on <keyword id="35140" type="COMPANY" weightage="20" keywordseo="BSE">BSE</keyword>. The stock had witnessed significant downtrend and had slumped over 30 per cent in the previous two trading sessions.

RBL Bank assures its investors that it is financially strong and well capitalized

<ul><li>Yes Bank has been looking for an investor and Hong Kong-based SPGP Holdings has reportedly has made a $1.2 billion binding offer.</li><li>Earlier this year, SPGP Holdings’ bid for Reid &amp; Taylor was rejected because it failed to deposit the earnest money, a paltry sum of ₹2 crore.</li><li>Yes Bank’s share price soared nearly 30% after the announcement but investors must remember the proof of the pudding is in the eating.</li></ul>Cash-strapped Yes Bank has been looking for an investor and Hong Kong-based SPGP Holdings has reportedly has made a ₹8,500 crore ($1.2 billion) binding offer, according to a television channel CNBC-TV18. Investors who were anxious about the bank’s survival heaved a sigh of relief and bet big money, taking the stock of Yes Bank higher by as much as 30% in afternoon trade on October 31. Earlier in August, Yes Bank had raised ₹1,930.46 crore through qualified institutional placement to fund its business expansion. The share price has more than doubled from its <a href="https://economictimes.indiatimes.com/markets/stocks/news/whats-next-for-yes-bank-after-shares-double-from-decade-low/articleshow/71823268.cms">ten year low </a>it hit this month in anticipation of such fundraising. However, investors must remember the same SPGP Holdings bid for Reid &amp; Taylor earlier this year. It <a href="https://www.thehindubusinessline.com/companies/nclt-mumbai-puts-rtils-liquidation-plans-on-hold/article25892000.ece">reportedly</a> had a corpus of $250 million but the bid was eventually rejected by the court because SPGP Holdings failed to deposit the earnest money, a paltry sum of ₹ 2 crore. The two-judge bench at India’s bankruptcy court slammed SPGP Holdings as they rejected its bid and handed it over to another Gujarat-based asset reconstruction firm. “You painted a rosy picture and misrepresented facts before us. This is just not correct. We waited for one week and now you say you cannot pay. This is contempt of court. You may withdraw your application. We are very unhappy with you,” Justice Mohan <a href="https://economictimes.indiatimes.com/markets/stocks/news/reid-taylor-case-court-dismisses-spgps-plea-new-investor-in-the-fray/articleshow/67551449.cms?from=mdr">reportedly</a> told SPGP director Pankaj Agarwal, who was present in court. For now, Yes Bank’s investors are in cloud nine. "The bank also continues to be in advanced discussions with other global and domestic investors," Yes Bank’s statement said, adding that the fundraising plan is subject to regulatory approvals and bank's board and shareholders approvals. The stock has lost over 60% of its value since the start of this year to hit a ten-year low. 
 
 
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 Hope floats that Yes Bank may come out of its current cash crunch and crisis of confidence, which is why the share price of Yes Bank has more than doubled in recent weeks. But investors must remember the proof of the pudding is in the eating. SEE ALSO: <a href="https://www.businessinsider.in/yes-bank-plans-to-grow-25-by-2020/articleshow/71105078.cms" data-type="tilCustomLink" target="_blank">YES Bank wants to customize branches, ramp up digitize customer acquisition to grow at a breakneck speed of 25%</a> <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>

Yes Bank’s white knight SPGP Holdings didn’t have ₹2 crore to bid for Reid & Taylor in Jan 2019

<ul><li> The Mumbai-based bank posted a loss of ₹600 crore for the three months ended September 2019.</li><li>Yes Bank's share price has lost over 60% of its since the start of this year due to mounting cash crunch and the investors' anxiety with bank's earlier management.</li><li>Gross NPA, a measure of bad loans, spiked to 7.39% in the latest quarter, more than double compared to the first three months of 2019.</li></ul>The Mumbai-based Yes Bank posted a shocking loss of ₹600 crore for the three months ended September 2019. While the revenue fell 20%, costs rose during the quarter squeezing the operating profit by 40%. This is largely due to a sharp spike in bad loans. Gross NPA, a measure of bad loans, jumped to 7.39%— more than doubled compared to the level at the which the number was in the first three months of 2019. Gross NPA rose to ₹17,100 crore— nearly two and a half times more compared to three months ago. The amount of loans that turned sour during the quarter was over ₹5,945 crore. Making matters worse, Yes Bank had to take a one-time tax hit of ₹709 crore. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 In the last quarter ending June 2019, Yes Bank posted as much as ₹114 crore in net profit, 91% less compared to the same period a year earlier. However, it was way better than street predictions that it would post heavy losses. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 “This was a ‘Quarter of Consolidation’ in which the bank has demonstrated strong resilience in revenues and asset quality. We believe that earnings trajectory should strengthen significantly from hereon,” the bank said in a press release three months ago. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 The brokerages have also been worried ever since the stock has been taking a beating since March this year. Over 60% of the bank’s share value has been shaved off since the start of this year. The stock of yes Bank even hit a ten-year low a few days ago, but since then it has doubled. 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
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 Hope floats that there will be a white knight who will bring in the money to help the bank to tide over the current cash crunch. Also read: 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 
 <div type="Article" hostid="261" msid="71835877" title="Yes Bank’s white knight SPGP Holdings didn’t have ₹2 crore to bid for Reid &amp; Taylor in Jan 2019" mstype="2" mssubtype="0"></div>





































 “YES Bank’s exposure in Anil Dhirubhai Ambani Group stands at around 2.9% of loan book as per recent Ministry of Corporate Affairs (MCA) filings. Apart from this, the bank’s exposure to the DHFL, Indiabulls and Essel groups combined exceeds around 4% of gross loan book,” said a report by Elara Securities on June 26. SEE ALSO: <a href="https://www.businessinsider.in/yes-bank-plans-to-grow-25-by-2020/articleshow/71105078.cms" data-type="tilCustomLink" target="_blank">YES Bank wants to customize branches, ramp up digitize customer acquisition to grow at a breakneck speed of 25%</a> <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>

Bad loans take the wind out of Yes Bank— swings to a loss in the second quarter

<ul><li>The <keyword id="6357808" type="DEFINITION" weightage="20" keywordseo="enforcement-directorate">Enforcement Directorate</keyword> (<keyword id="12163" type="COMPANY" weightage="20" keywordseo="Ed">ED</keyword>) filed a money laundering case and carried out searches at the residence of the bank's founder <keyword id="128581" type="PERSON" weightage="20" keywordseo="Rana-Kapoor">Rana Kapoor</keyword>.</li><li>The central financial probe agency also issued a look out circular against Kapoor, so that he does not leave the country.</li><li>The ED's action comes a day after the RBI superseded the <keyword id="45660" type="CITY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawal by account holders for a month.</li></ul>The Enforcement Directorate (ED) filed a money laundering case and carried out searches at the residence of the bank's founder Rana Kapoor, officials said. The central financial probe agency also issued a look out circular against Kapoor, so that he does not leaves the country. A senior ED official told IANS, "Yes, the agency registered a case of money laundering in the Yes Bank matter." Confirming the searches carried out at Kapoor's residence in Mumbai by the central financial probe agency, the official said, "Yes, the searches started late in the evening at his residence." Another ED official, also related to the probe said the agency has issued LOC against Kapoor, so that the does not leaves the country. The copy of the LOC has been sent to the airport's with details of his passport. The ED's action comes a day after the RBI superseded the Yes Bank board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawal by account holders for a month. The RBI said that the bank's board was superseded "owing to serious deterioration in the financial position of the bank". Former SBI CFO Prashant Kumar was appointed as administrator of Yes Bank. Yes Bank has over 1,000 branches and 1,800-plus ATMs across the country which are under severe stress after the crisis erupted last night. Earlier in the day, Union Finance Minister Nirmala Sitharaman said that the bank was put under watch since 2017 and developments relating to it were being monitored on a day-to-day basis. "Since 2017, the central bank noticed governance issues and weak regulatory compliance at Yes Bank, besides wrong asset classification and risky credit decisions," the Finance Minister said. The bank took many risky credit decisions, and the RBI had advised change in management, she said, adding such decisions were taken in the interest of the bank's health. A new CEO was appointed in September 2018 and clean up of the bank started and the investigative agencies too found irregularities, she said. Sitharaman said the RBI has been asked to assess the causes of problems and identify the role played by individuals. The restructuring scheme will be fully effective within 30 days, she said, adding that the State Bank of India has expressed willingness to invest in Yes Bank. Kapoor was present at his Samudramahal residence when the searches were conducted, the official said. ED officials also questioned Kapoor about financial dealings and properties. Kapoor's role in the disbursal of loan to a corporate entity and kickbacks allegedly received in her wife's bank account are also being probed.

You Searched For "yes bank branches" and got 11 results

Banking jobs: HDFC Bank, Axis Bank, ICICI Bank and more are hiring across the country for various roles

Vaamanaa Sethi

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

Prabhjote Gill

Assurances aside, Yes Bank customers queue up outside branches

PTI

Distress calls, long queues at branches of Yes Bank post withdrawal limit

PTI

Yes Bank customers scramble for cash withdrawal at branches, most ATMs run dry

PTI

EXCLUSIVE: YES Bank's workforce shrank by 1,000 employees since March but now it's hiring again for the coming year

Prabhjote Gill

YES Bank moratorium could be lifted within a week, says RBI-appointed administrator

Sanchita Dash

RBL Bank assures its investors that it is financially strong and well capitalized

PTI

Yes Bank’s white knight SPGP Holdings didn’t have ₹2 crore to bid for Reid & Taylor in Jan 2019

Sriram Iyer

Bad loans take the wind out of Yes Bank— swings to a loss in the second quarter

Sriram Iyer

YES Bank founder Rana Kapoor questioned on money laundering case, house raided by ED

IANS

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