YES Bank Refutes Rumours on its Financial Position
Moneylife Digital Team 08 July 2019
Private sector lender YES Bank Ltd on Monday has clarified that, contrary to certain reports, its financial position is sound and stable and is liquidity and operating performance continue to be robust.
 
In a regulatory filing, the lender, says, "Over the past few weeks, there has been a lot of unfounded speculation about YES Bank's board and management stability, asset portfolio, future growth prospects amongst other things. We strongly refute such speculations, which we suspect is a deliberate and malicious attempt to create instability in the institution by undermining investor and client confidence. We have apprised the authorities of these developments."
 
The board of YES Bank also decided to appoint Rajeev Uberoi as senior group president for governance and controls and Anurag Adlakha as senior group president and head for financial management and strategy.
 
YES Bank ended 5.56% higher on Monday at Rs93.10 on the BSE, while the 30-share Sensex closed 2% down at 38,720.
Comments
Arun Kumar Saha
7 years ago
It is a coincidence that during that time SBI chairperson was Ms Arundhati Bhattacharya who studied English Literature at Calcutta’s Lady Brabourne College and then at Jadavpur University (Wikipedia). How one can expect complex aspects of modern Finance, Risk management etc. from such person?
Meenal Mamdani
Replied to Arun Kumar Saha comment 7 years ago
I do not understand the gist of your question.
Are you implying that this lady official is incompetent because she studied English Literature? Or you think she is incompetent because of the quality of the institution?
She must have other academic credentials besides a BA in English Literature such as in banking and finance to be appointed chief of such a large institution. Are you saying that she has no credentials in either of these fields?
Arun Kumar Saha
Replied to Meenal Mamdani comment 7 years ago
Exactly, for such a top job it is expected to have solid technical background backed by solid full-time academic training - isnt it? Would you go to a Doctor for yours/family's health treatment if she/he doesn't have even an MBBS degree regardless of his/her experience level e.g. how many patients he treated?
AAR
Replied to Arun Kumar Saha comment 7 years ago
Bank officers clear Probationary Officers examination and then are trained in specific streams like Core Banking, Auditing, IT... They follow their streams for 20-25 years rising through the ranks before getting the top job. Similar to IAS in Government services.
Arun Kumar Saha
Replied to AAR comment 7 years ago
This report from RBI itself talks about something wrong in such "Conveyor belt" approach
VIJAYAKUMAR SAMUEL
Replied to Arun Kumar Saha comment 7 years ago
Managing a Bank that too PSU is not rocket science . The political interference makes it the most vulnerable.They keep lending to the same corporate even though they are fully aware that the company is sinking.They have no time for small borrowers who would honestly pay back the amount unlike the big corporates who borrow and borrow more to cover their lifestyle and kill the competition.Its high time SBI is broken down into small er units and individual managers be made more accountable
Ramesh Poapt
7 years ago
yes bank...NO bank!
Chintan
7 years ago
This is obvious! No bank would agree to reports and allegations. Wait for some time and see how it will unfold. DHFL did same. Even external auditors found nothing wrong. But today, company is on sale!!
Free Helpline
Legal Credit
Feedback