YES BANK SHARE PRICE NOW : on NSE
YES BANK SHARE PRICE NOW : on BSE
Now the bank has started crawling towards success with better management, better investors and solid future action plans.
Yes Bank updates:
- Moratorium period will be over on 18th Mar, 2020.
- Normal banking operations will start from Mar 19, 2020 in all the branches across India.
- Digital banking will also be resumed from Mar 19, 2020.
- On 6th Mar’ 20 SBI has done meeting and may decide to buy 49% Yes bank shares, but clearly denied to merge with SBI. RBI has given SBI to finalise on Yes bank till 9th Mar’ 20.
- Yes Bank founder Rana Kapoor sent to custody.
- PhonePe UPI (unified payments interface) was also down due to RBI’s moratorium on YES bank, which was exclusive partner for its all transactions. But, within 24 hours, PhonePe has changed to ICICI bank as its new partner for all its UPI operations and now it is running successfully.
Yes bank story so far:
On 5th Mar, 20 at 6 PM, RBI has replaced the existing board of Yes bank with RBI-appointed administrator Prashant Kumar, an ex-chief financial officer of State Bank of India (SBI) and also puts moratorium till 3rd April, 2020 and put a withdrawal cap of Rs. 50,000 only. But showing emergency of wedding, school fees, medical and some other, you can take out up to 5 lakh. It means YES Bank will not be able to grant or renew any loan or advance, make investment, incur any liability or disburse any payment.
Yes bank crisis became another sad story within 6 months of PMC crisis under Modi Government. Interestingly, Punjab Maharashtra Co-operative (PMC) had 16 lakh customers, more than 11,000 crore of deposits spread over 137 branches in 7 states, was one of the 10 large co-operative banks in India busted in Sep’19 with HDIL involvement. Likewise, Yes bank is a bigger bank, under monitor of RBI, still it busted.
If you have linked Salary account, EMI, SIPs or expecting money in Yes bank account, immediately change this to some another bank to make things smooth.
Yes Bank crisis in nutshell:
- Founded in 2004 by Mr Rana Kapoor.
- No. of Branches – more than 1000 across India
- No. of ATMs – 1800 across India
- Rank – 4th Largest private bank in India
- Withdrawal limit – Rs 50,000/- and upto 5 lakh in case of emergencies.
- Moratorium period : till 3rd April, 2020.
- Financial data – Click here (Source: NSE)
- Find Yes Bank ATM – Click here (Source: Yes Bank)
List of recent financial crisis or scams:
- Punjab National Bank – Rs 11,400 crore scam with Nirav Modi and Mehul Choksi in 2018
- ICICI bank fraud – Rs 1,875 crore with ex-CEO of ICICI bank in 2019
- IL&FS – IL&FS Crisis in 2018
- DHFL – DHFL crisis in 2019
- YES Bank – YES Bank in 2020
Now, the long queue for getting cash may be seen at Yes bank ATMs and branches while many are not working or shutter closed. So, the fear among the depositors have crept in. The RBI has reassured that the deposits are safe without any risk. Now it’s time to wait and watch how this crisis pans out in the coming days, fingers crossed..
Now, with government help, SBI bank, HDFC bank, Icici bank, Axis bank, Kotak Mahindra bank etc. has planned to buy shares in YES bank. It is also seen in CNBC TV18 tweet:
Disclaimer: Views are personal.