Yes Bank was rescued in nick of time before COVID-19 struck, happy with progress: CEO Prashant Kumar
Speaking for the first time about the journey since the RBI and the government moved in to bailout the lender seeing an exodus of deposits with a Rs 10,000-crore rescue act led by SBI, Kumar acknowledged that the thread was very slender and the timing was very apt
PTI | May 3, 2021 | Updated 10:32 IST
Yes Bank s rescue act in early March 2020 happened in the nick of time ahead of the COVID-19 pandemic, and even a 15-day delay in it would have meant great difficulty for a lender about to close down, its new managing director and chief executive Prashant Kumar said.
Yes Bank rescue happened in nick of time before pandemic struck, happy with progress: CEO Prashant Kumar
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Yes Bank rescue happened in nick of time before pandemic struck, happy with progress: CEO Prashant KumarPTI
Last Updated: May 02, 2021, 05:06 PM IST
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Speaking for the first time about the journey since the RBI and the government moved in to bailout the lender seeing an exodus of deposits with a Rs 10,000-crore rescue act led by SBI, Kumar acknowledged that the thread was very slender and the timing was very apt.
Reuters
Kumar said the top 250 officers of the bank will witness a dent in their take homes immediately.
Read more about Yes Bank rescue happened in nick of time before pandemic struck: CEO on Business Standard. Yes Bank s rescue act in early March 2020 happened in the nick of time ahead of the Covid-19 pandemic, and even a 15-day delay in it would have meant great difficulty for a lender, said the CEO