Yes Bank woos Microsoft, two other tech firms for a strategic investment Yes Bank could sell as much as 15% through a fresh equity issuance if the talks are productive.The ailing lender has said that it doesn’t mind if raising capital results in a large stake dilution
Amendments to bank resolution framework to help preserve depositor confidence: Moody's On June 26 the government amended the Banking Regulation Act, 1948, allowing the Reserve Bank of India (RBI) to initiate the resolution of a weak bank by reconstructing its capital or merging it with another bank without the prior requirement of imposing a moratorium on its depositors or creditors.
Banking Act amendment is credit positive for depositors, says Moody's Yes Bank was the latest to be put under moratorium on March 5 after it failed to raise capital in time. Depositors could not withdraw more than Rs 50,000 from their accounts. Also, electronic transactions to and from Yes Bank accounts were frozen, causing some borrowers to miss their monthly payments. Moody's said the new amendments will help depositor confidence.