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Thursday, December 2, 2021
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    Yes Bank Scam

    2004 established, ranked as the sixth private sector bank, and twenty-third in the Indian banking system YES Bank faced numerous fluctuations. Whether they were in terms of Board of Directors or Partners.  The fall of YES BANK started when the owner of YES BANK Mr. Rana Kapoor started giving excessive loans to stressed units at high interest rates. Stressed Units are those which have a high uncertainty to pay back the loan amount. A huge Indian population has their money invested in YES BANK. If this gets defaults then the banking system prevalent in the economy will collapse and to protect the money of people government is pressuring some government s units like SBI to become a partner of such banks to bring them out of default.  

    In 2020 many investors like SBI, the largest partner of YES BANK  with a stake of 48.21% have undertaken YES BANK for its revival. Two more investors like ICICI Bank and HDFC Bank have the highest share. After the appointment of the new chairman Mr. Sunil Mehta, YES BANK has seen reconstruction in its focus areas and banking services. Other investors like IDFC First Bank, AXIS Bank, and Kotak bank also helped YES BANK to come back on track. Even in this situation, YES BANK was able to raise 15000 crores to follow on public offerings because of the faith of the customers it holds.

    What I think is that when all these powerful financial institutions will come together to uplift such a big private sector bank then YES BANK will return back to its normalcy. YES BANK has got some new retail and institutional investors for further expansion and growth. So I consider that even after getting many investors YES BANK will come back on track again and will retain the position it was holding earlier.

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