Reports of management instability baseless: Yes Bank CEO Ravneet Gill

Clarifying on the reports of instability in the management, Yes Bank managing director and CEO Ravneet Gill on July 8 said that the claims were completely baseless and that they indicated a "concerted effort to try and cause a bit of instability".

Over the last few weeks, there have been a lot of speculations about the board and management stability, asset portfolio and future growth prospects.

"The talk about management stability... talk about what is happening with credit... what happens with respect to future revenue trajectory of the bank... very much unfounded. We thought that this will pass over a period of time but that hasn’t happened," said Gill, in an interview with CNBC-TV18.

He added that this led to him deciding to come out and clarify on the matter.

"Therefore, we thought we should come out there and put out into the clear in terms of the fact that these are completely unfounded, completely baseless and very clearly seem to indicate a concerted effort to try and cause a bit of instability," he said. "I am here to stay and absolutely committed to the bank."

On the fundraising front, Gill said: "At the end of the day we have multiple options. It’s not just going down one path; it could be a mix of public and private whereby we could solve for a larger amount."

However, he said the company would wait for the stock price to stabilise before going for fundraising.

Speaking about exposure to ADAG, he said: "To the best of my knowledge, we have never talked about the exposure as far as the group is concerned. But in terms of where that exposure is, I think it’s in some of the better companies and as I have always mentioned – one, we find the management of the company very constructive in terms its resolution and second, we are well collateralised."

Source: CNBC-TV18