YES Bank returns Rs 50,000 cr special funding to RBI way ahead of due date

Non-public sector lender YES Financial institution repaid Rs 50,000 crore it took underneath Reserve Financial institution’s particular liquidity facility (SLF) on September eight, properly earlier than the due date. Financial institution Chairman Sunil Mehta, in his handle to shareholders on the financial institution’s annual common assembly (AGM), stated the financial institution may achieve this as a result of it acquired robust buyer liquidity inflows.

RBI had prolonged particular funding help as part of restructuring scheme to rescue the then ailing financial institution.

CRISIL has upgraded score on the financial institution’s certificates of deposit (CD) from “A2” to “A2+” because of the enchancment within the funding and liquidity profile of the financial institution. This has been attainable as a result of gradual enhance in its deposit base in addition to sizeable capital raised lately.
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The financial institution’s liquidity protection ratio (LCR) has additionally improved within the current months. LCR improved to 114.1 per cent as of June 30 from per cent as of March 31. Going by RBI norms, a financial institution has to keep up minimal LCR of 80 per cent.

Complete deposits elevated to Rs 1.17 trillion (together with present deposits) as of June 30 from Rs 1.05 trillion as of March 31.

Mehta stated the financial institution efficiently raised fairness funding of Rs 15,000 crore by means of follow-on public providing (FPO) in July, inside 4 months of the restructuring scheme, amidst difficult market circumstances.

This demonstrates robust confidence of institutional and retail buyers within the financial institution’s restructuring plan, motion taken, street map and its skilled administration underneath the brand new management, he stated.

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