YES Bank Assamed!!

[afdb002]

8 hours ago, Amy99 said:

@afdb002nuv kuda assam anukunna... 

[Amy99]

21 hours ago, afdb002 said:

[timmy]

On 3/5/2020 at 10:26 PM, afdb002 said:

papam veedu entha naakina no use

 

Yes Bank managing director and chief executive officer Rana Kapoor. Photo: Abhijit Bhatlekar/Mint

Rana Kapoor | If I were FM

4 min read . Updated: 04 Jul 2014, 11:11 PM ISTRana Kapoor

Yes Bank MD and CEO Rana Kapoor talks about his expectations from the Union budget

Topics

union-budget-2014 Union BudgetRana KapoorYes Bankjob creationinflationtax reforms

 

What are your expectations from the budget? What are the two or three things the finance minister should do to revive investment and growth?

I expect the Union budget to be beyond a set of numbers depicting the balance sheet of the government. The new government, with a strong mandate, is likely to use this platform to signal its policy intent in a more nuanced manner. The thrust should be on reviving the economy with focus on job creation and skill development, managing supply-side inflationary pressures, along with strict adherence to fiscal consolidation with focus on quality of adjustment.

With investment revival now becoming an imperative, the finance minister needs to facilitate a conducive environment for doing business. In this context, clarity on retrospective taxation and structural tax reforms (like the direct taxes code and the goods and services tax) should be prioritized. Activity in the infrastructure sector can be stimulated by classifying fresh bank lending as PSL (priority sector lending) and deploying the over 2 trillion cash surplus with public sector units towards capex. In a similar vein, the government can also channelize existing development programmes, like the Mahatma Gandhi National Rural Employment Guarantee Scheme for rural asset creation. Last, but not the least, a strategy for developing and energizing niche sunrise sectors like affordable housing, tourism, and healthcare needs to be put in place to harness India’s demographic dividend.

What is your budget wish list for the banking sector?

The banking sector needs to develop pari passu with the changing economic and financial structure. With this broader objective, the Union budget can devise a four-pronged strategy to:

(i) Broaden and deepen the pool of financial savings

This requires implementation of out-of-box ideas like conversion of India Postinto Postal Bank of India for leveraging rural penetration for financial inclusion and creation of Gold Bank for effectively managing the inherent demand for gold in the country.

(ii) Improve efficiency and productivity

The finance ministry needs to provide a timeline for setting up a Bank Investment Committee that will hold equity shares in public sector banks. Moreover, the government also needs to encourage consolidation in the banking sector to drive economies of scale and scope through diversification in geography and products along with pooling of human capital.

In addition, the statutory pre-emption in the form of statutory liquidity ratio needs to be reduced further (to 15%) in consonance with the road map for fiscal consolidation (3% deficit target) and requirements of liquidity coverage ratio prescribed under the Basel III framework.

(iii) Ensure availability of capital

In order to create wider equity access, the policymakers should allow foreign direct investment/foreign institutional investment fungibility (within the stated cap of 74%) for investment in banks, relax the limit on private equity investment in banks from 5% to 10-15% (with adequate restrictions on voting rights), reduce volatility and, finally, increase Life Insurance Corporation of India’s investment limit in banks from 10% to 15-20%. These measures will also help in reducing the reliance on foreign institutional investors for equity capital and thereby curb market-related volatility in the short term.

In addition, there is an urgent need to lay a road map with a five-year vision plan for recapitalization of public sector banks, which would require over 3.5 trillion by 2017-18.

(iv) Facilitate credit availability for key sectors

With focus on infrastructure, takeout financing could be incentivized by allowing reasonable compensation to banks and norms regarding acquisition of large-sized stalled domestic infrastructure projects by experienced players can be relaxed (with suitable safeguards like a minimum lock-in) to support capex.

In addition, Specified Undertaking of Unit Trust of India stake sale by the government in blue-chip companies, offers a route to raise critical resources and aid fiscal consolidation.

When do you foresee the economy turning around? Do you see any green shoots on the horizon?

The economy has already turned a corner. In my opinion, the worst is behind us. Since last year, macroeconomic variables have shown gradual improvement. Leading indicators, with the turnaround in the auto sector being a harbinger, point towards a pickup in growth momentum, inflation expectations have started to moderate, and most importantly the rupee has stabilized close to its REER-CPI (real effective exchange rate based on Consumer Price Index)-based fair value of 60 against the dollar. As such, the green shoots have begun to germinate. What we need to do now is to nurture these green shoots in order to deliver a robust and sustained economic rebound. I am confident that the new government at the helm will be able to deliver on our expectations; to propel growth to 7%+ within the next two years.

Which are the areas you would first look at if you were the finance minister?

If I were the finance minister, my approach for reviving the economy would be three-pronged. First, I’ll ensure strict adherence towards fiscal consolidation to create space for the much warranted infrastructure spending. Second, I shall utilize the budget platform to focus on reviving the investment climate with emphasis on “ease of doing business" and job creation. Third, I shall announce short-term measures to contain price pressures in the food economy. Towards this, the new government has already adopted a proactive approach by announcing minimum export price for onion/potato along with making available additional stocks of rice for open market sales. The budget must take this forward by announcing direct cash transfers for all social schemes, increasing the 10,000 limit for tax exemption on interest earned on savings account along with a rejig of tax slabs to comfort the common man against price pressures.

https://www.livemint.com/Opinion/FDFe9lu7ASLCWVTUtQpK7H/Rana-Kapoor--If-I-were-FM.html

This is what he said in 2014  2017 nunchi RBI close monitoring chesthundhi ani nirmala sitharaman chepthundhi veedu jan 2019 lo resign chesinattu unnadu navvu he is facing ED charges 

 

[Ellen]

On 3/5/2020 at 3:24 PM, CH_Desi said:

I don't understand why does SBI(Public enterprise) need to invest in a failing enterprise like YES Bank. 

If SBI invests the cost may be some 2000 crores. But if one entire bank fails it can have a huge impact on economy. So SBI investing in yes bank is good for them in a certain way. SBI will have 49% stake, which is good once yes  bank goes back into business. But instead of buying it for 2 rs per share, they shud have invested 1 rupee...would be more profitable. But god knows....

the downside of this was, the moment sbi gave a nod to buying, their stock price fell ...hit an all time low. Yes bank value increased by 25% though!

[Kool_SRG]

ED shifts Yes Bank''s Rana Kapoor to Mumbai office for quizzing

Mumbai, March 7 (IANS) A day after the Enforcement Directorate registered a money laundering case against Yes Bank founder Rana Kapoor and raided his premises, he was taken to the agency''s office in Mumbai on Saturday for further questioning.

Kapoor, who was grilled by central agency''s officials on Friday night at his Samudra Mahal residence in Mumbai, was shifted to the ED office in the metropolis around 12.30 pm.

ED officials said Kapoor was questioned throughout the night, with some rest time.

A senior ED official connected with the probe told IANS: "Kapoor will be questioned about Yes Bank loans to Dewan Housing Finance Limited (DHFL)."

The official said that during searches a lot of incriminating documents were found and the agency wanted to grill him on his links with DHFL promoters and other companies.

Kapoor''s alleged role in the disbursal of loan to a corporate entity and kickbacks reportedly received in her wife''s bank account are also under probe.

The ED had filed the money laundering case against Kapoor and raided his residence, apart from issuing a look-out circular so that he does not flee the country.

The ED registered a money laundering case against Kapoor as a continuation of its probe against the DHFL wherein it was allegedly found that Rs 12,500 crore was diverted to 80 shell companies using one lakh fake borrowers. The transactions with these shell companies date back to 2015.

An ED official in New Delhi told IANS that the DHFL probe revealed that funds diverted by the DHFL originated from Yes Bank.

He said that the searches at Kapoor''s residence on Friday night were meant to find out any irregularity in grant of loans to the DHFL by the Yes Bank.

The ED has accused Kapil and Dheeraj Wadhawan of DHFL of purchasing shares in five firms -- Faith Realtors, Marvel Township, Abe Realty, Poseidon Realty, and Random Realtors -- after which they were amalgamated with Sunblink.

The outstanding loans of these five firms, totalling around Rs 2,186 crore till July 2019, were allegedly appropriated onto the books of Sunblink to cover up the diversion of loans acquired from DHFL.

The ED''s action comes after the RBI superseded Yes Bank Board for 30 days and appointed an administrator, putting a cap of Rs 50,000 on withdrawals 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, which has over 1,000 branches and 1,800-plus ATMs across the country.

On Thursday, Union Finance Minister Nirmala Sitharaman said that the bank was on watch since 2017 and developments relating to it were monitored on a day-to-day basis.

[karthik25]

Yes bank... story so far. Good thread

https://twitter.com/PratikshaDake/status/1235701236776579073

[karthik25]

On 3/5/2020 at 11:14 AM, Hydrockers said:

Loans addagoliga icharu ga

Ippudu anubavistunaru bank vallu

Inko 2 banks mingite next PM rahul ni anukovachu inga

 

RaGa unnantha varaku Modi is safe.. which is not good for the country. In the sense, anyone winning easily is not good...

 

[andhra_jp]

 

[andhra_jp]

https://www.thenewsminute.com/article/andhras-tirumala-temple-trust-withdrew-rs-1300-cr-yes-bank-oct-2019-119658

Andhra's Tirumala temple trust withdrew Rs 1,300 cr from Yes Bank in Oct 2019

 

[afdb002]

3 hours ago, timmy said:

Yes Bank managing director and chief executive officer Rana Kapoor. Photo: Abhijit Bhatlekar/Mint

Rana Kapoor | If I were FM

4 min read . Updated: 04 Jul 2014, 11:11 PM ISTRana Kapoor

Yes Bank MD and CEO Rana Kapoor talks about his expectations from the Union budget

Topics

union-budget-2014 Union BudgetRana KapoorYes Bankjob creationinflationtax reforms

 

What are your expectations from the budget? What are the two or three things the finance minister should do to revive investment and growth?

I expect the Union budget to be beyond a set of numbers depicting the balance sheet of the government. The new government, with a strong mandate, is likely to use this platform to signal its policy intent in a more nuanced manner. The thrust should be on reviving the economy with focus on job creation and skill development, managing supply-side inflationary pressures, along with strict adherence to fiscal consolidation with focus on quality of adjustment.

With investment revival now becoming an imperative, the finance minister needs to facilitate a conducive environment for doing business. In this context, clarity on retrospective taxation and structural tax reforms (like the direct taxes code and the goods and services tax) should be prioritized. Activity in the infrastructure sector can be stimulated by classifying fresh bank lending as PSL (priority sector lending) and deploying the over 2 trillion cash surplus with public sector units towards capex. In a similar vein, the government can also channelize existing development programmes, like the Mahatma Gandhi National Rural Employment Guarantee Scheme for rural asset creation. Last, but not the least, a strategy for developing and energizing niche sunrise sectors like affordable housing, tourism, and healthcare needs to be put in place to harness India’s demographic dividend.

What is your budget wish list for the banking sector?

The banking sector needs to develop pari passu with the changing economic and financial structure. With this broader objective, the Union budget can devise a four-pronged strategy to:

(i) Broaden and deepen the pool of financial savings

This requires implementation of out-of-box ideas like conversion of India Postinto Postal Bank of India for leveraging rural penetration for financial inclusion and creation of Gold Bank for effectively managing the inherent demand for gold in the country.

(ii) Improve efficiency and productivity

The finance ministry needs to provide a timeline for setting up a Bank Investment Committee that will hold equity shares in public sector banks. Moreover, the government also needs to encourage consolidation in the banking sector to drive economies of scale and scope through diversification in geography and products along with pooling of human capital.

In addition, the statutory pre-emption in the form of statutory liquidity ratio needs to be reduced further (to 15%) in consonance with the road map for fiscal consolidation (3% deficit target) and requirements of liquidity coverage ratio prescribed under the Basel III framework.

(iii) Ensure availability of capital

In order to create wider equity access, the policymakers should allow foreign direct investment/foreign institutional investment fungibility (within the stated cap of 74%) for investment in banks, relax the limit on private equity investment in banks from 5% to 10-15% (with adequate restrictions on voting rights), reduce volatility and, finally, increase Life Insurance Corporation of India’s investment limit in banks from 10% to 15-20%. These measures will also help in reducing the reliance on foreign institutional investors for equity capital and thereby curb market-related volatility in the short term.

In addition, there is an urgent need to lay a road map with a five-year vision plan for recapitalization of public sector banks, which would require over 3.5 trillion by 2017-18.

(iv) Facilitate credit availability for key sectors

With focus on infrastructure, takeout financing could be incentivized by allowing reasonable compensation to banks and norms regarding acquisition of large-sized stalled domestic infrastructure projects by experienced players can be relaxed (with suitable safeguards like a minimum lock-in) to support capex.

In addition, Specified Undertaking of Unit Trust of India stake sale by the government in blue-chip companies, offers a route to raise critical resources and aid fiscal consolidation.

When do you foresee the economy turning around? Do you see any green shoots on the horizon?

The economy has already turned a corner. In my opinion, the worst is behind us. Since last year, macroeconomic variables have shown gradual improvement. Leading indicators, with the turnaround in the auto sector being a harbinger, point towards a pickup in growth momentum, inflation expectations have started to moderate, and most importantly the rupee has stabilized close to its REER-CPI (real effective exchange rate based on Consumer Price Index)-based fair value of 60 against the dollar. As such, the green shoots have begun to germinate. What we need to do now is to nurture these green shoots in order to deliver a robust and sustained economic rebound. I am confident that the new government at the helm will be able to deliver on our expectations; to propel growth to 7%+ within the next two years.

Which are the areas you would first look at if you were the finance minister?

If I were the finance minister, my approach for reviving the economy would be three-pronged. First, I’ll ensure strict adherence towards fiscal consolidation to create space for the much warranted infrastructure spending. Second, I shall utilize the budget platform to focus on reviving the investment climate with emphasis on “ease of doing business" and job creation. Third, I shall announce short-term measures to contain price pressures in the food economy. Towards this, the new government has already adopted a proactive approach by announcing minimum export price for onion/potato along with making available additional stocks of rice for open market sales. The budget must take this forward by announcing direct cash transfers for all social schemes, increasing the 10,000 limit for tax exemption on interest earned on savings account along with a rejig of tax slabs to comfort the common man against price pressures.

https://www.livemint.com/Opinion/FDFe9lu7ASLCWVTUtQpK7H/Rana-Kapoor--If-I-were-FM.html

This is what he said in 2014  2017 nunchi RBI close monitoring chesthundhi ani nirmala sitharaman chepthundhi veedu jan 2019 lo resign chesinattu unnadu navvu he is facing ED charges 

 

Bugger sold  all his shares and made money

[afdb002]

3 hours ago, Amy99 said: