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

A central bank digital currency (CBDC) can play a key role in providing access to digital payments without the requirement of a bank account and the access would be facilitated by a central bank-issued digital wallet, said industry stakeholders. The rollout of the e-rupee has been one of the most sought-after developments, since its announcement in the FY23 Union budget. Jaya <keyword id="3655832" type="General" weightage="80" keywordseo="vaidhyanathan" source="Orion">Vaidhyanathan</keyword>, CEO of BCT Digital, said that the <keyword id="30067" type="General" weightage="80" keywordseo="rbi" source="Orion">RBI</keyword>'s commencement of the pilot of the digital rupee marks appreciable progress in the journey toward digital payments. "The initiative has started in the low volume, high-value wholesale (interbank) segment from where learnings would be used to roll out reliable, built-to-scale retail payments," said Vaidhyanathan. The pilot announcement involves nine banks, including the SBI, the Bank of Baroda, the HDFC Bank, the Yes Bank, the Kotak Mahindra Bank, and the ICICI Bank, settling secondary market transactions in government securities, thereby reducing settlement risk and transaction costs. "A successful pilot and by extension, a full rollout of the digital rupee is expected to boost the reach of payment and financial needs of a wider category of users while ensuring transparency and low operational cost, and in this regard, it is encouraging to witness the RBI's support for innovation in creating a world-class, future-ready digital ecosystem," Vaidhyanathan stressed. India has one of the most technologically-evolved currencies in the world, and the e-rupee will put it in the forefront of true digital payments and improve financial inclusion. "The popularity of a digital rupee backed by the RBI will help bring legitimacy to other private digital currency like crypto. While we wait for clarity on how it is implemented, it is a positive step towards the acceptance of digital currency," said <keyword id="219963" type="General" weightage="80" keywordseo="prashant-kumar" source="Orion">Prashant Kumar</keyword>, Founder and CEO at weTrade. According to Arjun Khazanchi, Co-Founder and Chief Legal and Strategy Officer at Rooba.Finance, the CBDC is an ambitious project where the government has been silently working to disrupt the financial system which has traditionally been opaque, cash dependent, and highly-inefficient. "The first use case is going to be for the secondary market transactions in government securities. This move may even boost liquidity, remove inefficient and redundant processes while reducing transaction costs. This would also enable increased transparency between the participants," Khazanchi contended. Through this, the government expects to also be able to reduce settlement risk which is one of the biggest use cases for Blockchain in financial markets. There are some fears regarding the privacy and overt control that the government may possess over the CBDCs. "However, some commentary may be over exaggerated with intent being presumed. Retail CBDC is still far away and would require a lot of education and technical training before being imposed," said Khazanchi. The CBDCs could help preserve the role of public fiat in monetary policy, securing central banks' role in protecting financial stability in their markets. It provides a public, digital alternative to cash and private digital money. According to <keyword id="181738" type="General" weightage="80" keywordseo="manish-sharma" source="Orion">Manish Sharma</keyword>, Founding Partner of Centricity Wealth Tech, the CBDCs can play a key role in providing access to digital payments without the requirement of a bank account. "Public-private partnerships will be essential to the success of a CBDC launch, enabling central banks to leverage established infrastructure and client relationships. Such alliances will help central banks implement use cases aligned with end-user needs, complementing their gaps in capabilities and knowledge of consumption habits, particularly in a retail scenario," <keyword id="445" type="General" weightage="80" keywordseo="sharma" source="Orion">Sharma</keyword> said. By engaging commercial banks and other private stakeholders (technology enablers, merchants, users) in the launch process, central banks will also foster a broader sense of ownership, manage fears of displacement, and increase the probability of successful adoption. Mahesh Shukla, CEO and Founder, PayMe India, said the RBI is further looking forward to focus on other wholesale transactions and cross-border payment, which can be projected as steps to ease the ways of financing for the general public. 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Indian e-rupee to boost digital payments sans bank accounts, say industry stakeholders

New Delhi, Mar 16 () Yes Bank on Monday said it has approved reconstitution of its board with Prashant Kumar as the new MD &amp; CEO. Kumar, former chief financial officer and deputy managing director of State Bank of India, is currently overseeing the troubled private sector lender as RBI-appointed administrator. The other board members will be Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non executive chairman of Yes Bank, Mahesh Krishnamurthy and Atul Bheda as non-executive directors. SBI will have the right to nominate two directors on the board of directors of Yes Bank. "The reconstitution of the board of directors of the Bank as set out, shall take effect immediately after the expiry of seven calendar days from the date of cessation of the moratorium in accordance with paragraph 11 of the Scheme," Yes Bank said in a regulatory filing undersigned by the bank's administrator Kumar. The administrator has been appointed by the Reserve Bank of India under Section 36ACA(2) of the Banking Regulation Act, 1949 with effect from March 6, 2020. The affairs, business and property of Yes Bank are currently managed by Kumar. Yes Bank said it has also amended the memorandum and articles of association of YES Bank Limited to reflect the application provisions of the Reconstruction Scheme. The moratorium on Yes Bank, placing a withdrawal limit of Rs 50,000 on deposits, is to be lifted by 6 PM on March 18, 2020 which is much before the original date of April 3. The bank on March 5 was put under moratorium by RBI due to serious financial mismanagement under its former MD &amp; CEO Rana Kapoor, who currently is in the custody of probe agencies, as well as failure to raise enough capital to keep afloat. The board of the bank was superseded with immediate effect, and other financial activities such as granting new loans, investment, among others, were also curbed. As per the bank's rescue plan outlined by RBI, SBI will have a stake of 49 per cent in Yes Bank through capital infusion of Rs 7,250 crore. Private lenders ICICI Bank, Axis Bank, Kotak Mahindra Bank, IDFC First Bank, Bandhan Bank, Federal Bank and mortgage lender HDFC Ltd have also infused capital in cash-strapped Yes Bank. KPM RVK

Yes Bank okays board reconstitution; Prashant Kumar to be new MD & CEO

New Delhi, Mar 19 () As banking services resuming fully at Yes Bank, administrator Prashant Kumar on Thursday once again assured depositors about the safety of their money and said there is ample liquidity with the bank. Kumar is the MD and CEO designate of the reconstructed Yes Bank. The banking services resumed at 6 pm on March 18, 2020, and customers were able to get full services by visiting the branches from March 19, 2020. "The bank has ample liquidity and there is no need to depend on external sources," Kumar said in a statement. Bank branches will open one hour earlier at 8.30 am from March 19 to 21, 2020, so as to serve the customers better. The bank has also extended banking hours across branches for its senior citizen customers, from March 19 to March 27, 2020 - 4.30 pm to 5.30 pm. "Yes Bank has taken adequate measures to restore banking services and ensured that the branches and ATMs have adequate supply of cash. However, there is no need to need for customers to rush for withdrawals and there is absolutely no issue on the liquidity front," Kumar said. Rajnish Kumar, Chairman, State Bank of India (SBI) said that the state-run lender will not sell even a single share of the 49 per cent stake it has picked up in Yes Bank before the three-year lock-in period. As part of the credible and sustainable reconstruction plan, an eight-member consortium led by SBI has collectively invested more than Rs 10,000 crore in Yes Bank. Kumar, a former SBI official, also said that the moratorium on the lender has been lifted in 13 days because of support from the government, RBI and other financial institutions. Besides, rating agency Moody's has also upgraded Yes Bank's long-term foreign currency issuer and foreign currency senior unsecured bond programme. Its credit outlook has been changed to positive. KPM ANSANS

Yes Bank administrator Prashant Kumar reassures safety of deposits

<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>RBI placed <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes bank</keyword> under a moratorium, capping maximum withdrawals at Rs 50,000 per account. </li><li>Yes Bank’s ATM in south Mumbai's Horniman Circle shutters were pulled down late in the evening.</li></ul>Harried Yes Bank depositors rushed to ATMs to withdraw cash but faced multitude of problems including closed down machines and long queues, after the RBI placed the bank under a moratorium, capping maximum withdrawals at Rs 50,000 per account for a month.Aggravating the problems of depositors were difficulties accessing the internet banking channel, which ensured that they can't transfer the funds online as well. At an ATM in south Mumbai's Horniman Circle, with the RBI headquarters overlooking it, the shutters were pulled down. The guard on duty said the machine was non-operational before he reported to work late in the evening and he was ordered to shut it after 2200 hrs. In the residential area of suburban Chembur, one ATM was dispensing cash but had a long queue of anxious depositors. One man said it was still possible to withdraw up to Rs 50,000 in multiple transactions from the machine. However, another machine nearby had run dry within minutes of the RBI announcement, a woman said. The regulatory actions, undertaken by the RBI and the government, came hours after finance ministry sources confirmed that SBI was directed to bail out the troubled lender. For the next month, Yes Bank will led by the RBI-appointed administrator <keyword id="219963" type="PERSON" weightage="20" keywordseo="Prashant-Kumar">Prashant Kumar</keyword>, an ex-chief financial officer of SBI.

Yes Bank's ATMs down after RBI restricts withdrawals at ₹ 50,000

Shares of <keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword> on Tuesday further jumped nearly 35 per cent after <keyword id="6423565" type="PERSON" weightage="20" keywordseo="moody">Moody</keyword>'s upgraded the company's ratings. Rallying for the third consecutive day, the company's scrip zoomed 34 per cent to Rs 49.75 on the BSE. On the NSE, it spiked by 34.77 per cent to Rs 50. The scrip has jumped nearly 100 per cent in three days. Yes Bank shares had on Monday also jumped sharply by over 45 per cent after announcement of a restructuring plan. The rating agency upgraded the company's ratings and also changed its outlook to positive. In a filing to the BSE on Monday, Yes Bank announced that the board of directors of the company has been approved for reconstitution, with <keyword id="219963" type="PERSON" weightage="20" keywordseo="Prashant-Kumar">Prashant Kumar</keyword>, former Chief Financial Officer and Deputy Managing Director of <keyword id="6354731" type="DOMAIN" weightage="20" keywordseo="state-bank-of-india">State Bank of India</keyword>, as Chief Executive Officer and Managing Director. Yes Bank said it has also amended the memorandum and articles of association of Yes Bank Limited to reflect the application provisions of the Reconstruction Scheme. The moratorium on Yes Bank, placing a withdrawal limit of Rs 50,000 on deposits, is to be lifted by 6 PM on March 18, 2020 which is much before the original date of April 3. SUM ANSANS

Yes Bank shares soar after Moody's upgrade and RBI's assurance

<ul><li><keyword id="45660" type="COMPANY" weightage="20" keywordseo="Yes-Bank">Yes Bank</keyword>’s share price has nearly halved in the past one year, but analysts don’t recommend investors to ‘buy.’</li><li>Even at ₹13.55 per share, there’s a chance that the stock is overvalued.</li><li>Experts believe that Yes Bank may go for another round of funding in the near future to try and shore up its provisions as the second wave of pandemic bears down.</li></ul>When the <keyword id="6354335" type="COMPANY" weightage="20" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> had to rescue Yes Bank from collapsing in March 2021⁠ — the same time the pandemic hit us all unexpectedly ⁠— the double blow had taken the wind out of the share price that hit a low of ₹23.95. . Today, it is at ₹13.55 — nearly half of what it was a year go. This, 14 months after the RBI placed Prashant Kumar, the former deputy managing director of the State Bank of India, to save Yes Bank from becoming rubble. At the same time, its peers have made money for their investors while those betting on Yes Bank, or finding a bargain any time in the last one year, have been left disappointed. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></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;">Bank </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;">Change in share price from 6 March 2020 to 6 May 2021 </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;">Yes Bank </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;">-16.1% </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;">ICICI Bank </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;">25.1% </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;">HDFC Bank </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;">23.4% </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;">Axis Bank </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;">8.8% </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;">Kotak Bank </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;">9.6% </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;">IndusInd Bank </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;">-8.9% </td></tr></tbody></table>Source: NSE The latest shock was a ₹3,788 crore net loss in Jan-March 2021 triggering a fresh bout of ‘sell’ calls. Some of those targets, set for any time in the following 12 months, have already been hit. That’s how fast the stock has been falling. Yet, even at this price, analysts aren’t gutsy enough to say ‘buy’. “The real value may be much lower, if you look at book value compared to other banks,” Vikram Sud, chairman and consultant at VSS Advisors and an independent director on the board of DBS Bank, told Business Insider. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></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;">Brokerage </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;">Target Price </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;">Recommendation </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;">ICICI Securities </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;">₹ 15 </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;">Sell </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;">Emkay Global </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><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;">Sell </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;">Nirmal Bang </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;">₹12 </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;">Sell </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;">Kotak Securities </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;">₹12 </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;">Sell </td></tr></tbody></table>Source: Respective reports A year earlier, between January and March 2020, people who had an inkling that the company — at the time run by Rana Kapoor who is currently lodged at Taloja Jail — was running on fumes, had already been withdrawing their money. The average depositor followed later. These small deposits, also called CASA (current account-savings account) ratio, are the cheapest source of funds for any bank to make money. There is no run on the bank anymore and so, this number has shown remarkable growth in the last three months. For every ₹10 that depositors had parked in the bank a year ago, there is now ₹15.2. "In the next3years, we continue to stay focused on doubling the deposit book and increasing the customer base to almost 3 times. And we also aim to improve our CASA ratio to 40% and double the cross-sell ratios," Kumar said during Yes Bank's fourth quarter earnings call. However, the street is suspicious of that number too. “If you ask, any customer would not be confident about putting their money in Yes Bank right now. I don’t know if they have enough transparency around what kind of customers are the ones who can give them these deposits,” an analyst from Emkay Global told Business Insider. <cmsannotation type="cmsannotation" annotationid="The depositors’ confidence, or the lack of it, is not the only fear about Yes Bank" comment="subhead" text="The depositors’ confidence, or the lack of it, is not the only fear about Yes Bank">The depositors’ confidence, or the lack of it, is not the only fear about Yes Bank</cmsannotation> The problem with Yes Bank was that, under Rana Kapoor, it had given a lot of loans that wouldn’t return and it kept brushing the bad loans under the carpet until there was a lot more than it could hide. The issue of the elusive borrowers may still persist. Even in the first three months of 2021, the lender had to write off a little more than ₹6 out of every ₹100 it gave out. The amount of such stressed loans, ones that are more likely to turn sour, is still high even though it is a fourth of what it was just three months earlier. <table style="border-width: initial; border-style: none; table-layout: fixed; width: 468pt;"></colgroup></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;">Yes Bank’s latest financials </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;">Jan-March 2021 </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;">Change </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;">Net interest income </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;">₹987 crore </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;">-22.5% (YoY) </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;">Net loss </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;">₹3,787.75 crore </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;">-244.1% (YoY) </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;">Provision for bad loans </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;">₹5240 crore </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;">138.3% (QoQ) </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;">Gross NPA </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;">15.41% </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;">6 bps (QoQ) </td></tr></tbody></table>Source: Yes Bank’s earnings report for Q4 2021 and Q4 2020 <cmsannotation type="cmsannotation" annotationid="Yes Bank CEO wanted to dump bad loans but couldn’t" comment="subhead" text="Yes Bank CEO wanted to dump bad loans but couldn’t">Yes Bank CEO wanted to dump bad loans but couldn’t</cmsannotation> The private bank’s plan was to get a licence from the Reserve Bank of India (RBI) to set up a separate asset reconstruction company (ARC). This ARC would buy the bank’s bad loans at a discount, help it clear the balance sheets, and start growing from there. According to the bank’s chief executive, Prashant Kumar, Yes Bank was hoping to deposit nearly ₹50,000 crore of bad loans to the ARC. However, the RBI turned down that request in March <a href="https://www.livemint.com/industry/banking/rbi-rejects-yes-bank-s-proposal-to-set-up-arc-11615722649056.html">citing</a> a conflict of interest. “Once the stock climbed back up [last year], they [Yes Bank] told investors they would want to apply for a separate ARC and they were confident of getting permission from the RBI, where they would basically park all the bad assets. But that didn’t happen,” said Emkay Global. However, according to Kumar, the option of setting up an ARC is still on the table. "That option is still alive and we would be waiting for more clarification to come from regulator after the report of the expert committee which they have made would come out," he said. Meanwhile, experts believe that Yes Bank may go for another round of funding in the near future to try and shore up its provisions as the second wave of pandemic bears down. “Market discounts all the knowledge that is known as of today. If new information comes out tomorrow, then the stock will react accordingly,” said an analyst on the condition of anonymity. SEE ALSO: <a href="https://www.businessinsider.in/business/corporates/news/good-news-for-tata-steel-jsw-steel-sail-hindalco-and-other-indian-steel-companies/articleshow/82451127.cms">China has broken another emissions record ⁠— and it is good news for some Indian companies</a> <a href="https://www.businessinsider.in/science/space/news/telescope-spots-the-chinese-long-march-5b-rocket-currently-in-an-unstable-orbit-around-earth/articleshow/82450870.cms">Telescope spots the Chinese Long March 5B rocket that is currently in an unstable orbit around Earth</a> <a href="https://www.businessinsider.in/business/startups/news/heres-why-zomato-is-reportedly-cutting-a-300-million-cheque-for-grofers/articleshow/82450062.cms">Here’s why Zomato is reportedly cutting a $300 million cheque for Grofers</a>

Yes Bank shares are cheaper than what they were a year ago — and what could revive the investment, if at all

Mumbai, Mar 17 () Yes Bank CEO-designate Prashant Kumar on Tuesday said complete operational normalcy will be restored from 6 pm on Wednesday as he emphasised there are absolutely no worries about liquidity. In past three days, more money came to Yes Bank compared to withdrawals as only one-third of customers withdrew Rs 50,000 from their accounts. The moratorium imposed on crisis-hit Yes Bank would be lifted on Wednesday. SBI and few other private banks have invested in Yes Bank under a revival plan. SBI Chairman Rajnish Kumar said not even a single Yes Bank share it holds will be sold before three-year lock-in period. BEN RAM DRR

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

Prabhjote Gill

Indian e-rupee to boost digital payments sans bank accounts, say industry stakeholders

IANS