Yes Bank: Investors will get 8415 crores & # 039; Zero & # 039;

by Jeremy Spirogis
India's cleanest city for 4th consecutive time

New Delhi. Its traders should bear the brunt of the messy situation of Yes Bank. 8415 crores of traders within the financial institution has been transformed to zero. In reality, the financial institution's Rs 8415 crore Tier 1 bond has been written down. The financial institution has given this data to the inventory exchanges. Bonds value Rs 3,000 crore issued by Yes Bank on 23 December 2016 and Rs 5,415 crore on 18 October 2017 have been utterly de-recorded. The Reserve Bank of India imposed a ban on Yes Bank on 5 March and proposed a SBI-led restructuring package deal, wherein bondholders' dues of over Rs 8,400 crore had been to be write-down. <! –

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Investors had moved the Bombay High Court

Investors who’ve invested cash in Yes Bank bonds had earlier approached the Bombay High Court on this case. But RBI acquired the hope of compromising them, which modified their resolution. During this era, Yes Bank has incurred a lack of Rs 18564 crore within the third quarter of the present monetary 12 months. Whereas in the identical quarter of the earlier monetary 12 months it had a revenue of Rs 1,000 crore. Whereas within the second quarter of the present monetary 12 months it was at a lack of Rs 629 crore.

Yes financial institution is not going to drown

However, regardless of such circumstances, Yes Bank is not going to submerge. RBI had launched a scheme to guard it, below which SBI would make investments Rs 7250 crore to purchase 45-49 per cent stake in it. Other traders who purchased stakes in Yes Bank embody ICICI Bank, HDFC, Kotak Mahindra Bank and Axis Bank. ICICI Bank, HDFC will make investments 1000-1000 crores and Kotak Mahindra Bank and Axis Bank will make investments 500-500 crores.

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