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Yes Bank Ltd soars 1.02%, Gains for third straight session


Yes Bank Ltd is quoting at Rs 14.9, up 1.02% on the day as on 12:49 IST on the NSE. The stock is down 46.88% in last one year as compared to a 55.32% gain in NIFTY and a 55.45% gain in the Nifty Private Bank index.
Yes Bank Ltd is up for a third straight session in a row. The stock is quoting at Rs 14.9, up 1.02% on the day as on 12:49 IST on the NSE. The benchmark NIFTY is up around 1.26% on the day, quoting at 14838.1. The Sensex is at 49675.92, up 1.5%. Yes Bank Ltd has dropped around 8.59% in last one month.
Meanwhile, Nifty Private Bank index of which Yes Bank Ltd is a constituent, has dropped around 1.61% in last one month and is currently quoting at 17451.75, up 2.04% on the day. The volume in the stock stood at 500.08 lakh shares today, compared to the daily average of 974.48 lakh shares in last one month. ....

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Banking Central | Who will win universal bank licences in this round?


Banking Central | Who will win universal bank licences in this round?
Moneycontrol
1 hour ago
© Dinesh Unnikrishnan
Banking Central | Who will win universal bank licences in this round?
A government-owned co-operative bank, a non-banking finance company (NBFC) backed by an internet entrepreneur, a veteran foreign banker and a company engaged in remittance services are among those who have sent in their applications to the Reserve Bank of India for on-tap universal bank licences.
Two names that stand out in the mix are internet billionaire Sachin Bansal and former Citi banker Pankaj Vaish. Bansal’s Chaitanya Fin Credit has been trying for a full-services banking permit for a while. If it gets the nod, Chaitanya will be only the second Indian microlender morphing into a bank. The other is Chandra Shekhar Ghosh s Bandhan Bank, which got the go-ahead in 2013-2014. ....

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SEBI Imposes Rs25 Crore Penalty on Yes Bank in AT-1 Bonds Case; Bank to Appeal


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The Securities and Exchange Board of India (SEBI) has imposed a penalty of Rs25 crore on Yes Bank Ltd for perpetrating fraudulent acts on its customers by influencing them to alter their investment positions from fixed deposits (FD) to risky additional tier-1 (AT-1) bonds. Three former senior executives of Yes Bank who were part of the private wealth management group in the bank were also fined Rs50 lakh to Rs1 crore by SEBI. 
 
SEBI’s investigation found that Yes Bank had misrepresented the AT-1 bond product as a ‘Super FD’ and ‘as safe as an FD’. The term sheet was also not shared with many investors and no confirmation was taken from the customers on their understanding of the product’s features and the risks associated with the bond. ....

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