**** YES BANK MORATORIUM ****
• Credit ratings firms and credit bureaus have received an intimation from Yes Bank on this. “We will not be downgrading those borrowers who missed payments due to the moratorium imposed on Yes Bank by the RBI. We have received intimation about this from the banks and have already factored those in our future ratings actions,” a senior official at a ratings company said.
• Yes Bank has been bailed out by a State Bank of India-led consortium with an equity investment of nearly Rs 11,000 crore. Others in the consortium included HDFC Bank, Axis Bank, ICICI Bank and Kotak Mahindra Bank. The lender had witnessed a silent mini-run on its deposit base since October last year. Deposits which stood at nearly Rs 2.09 lakh crore at the end of September halved to Rs 1.05 lakh crore at the end of March 2020.
(Sourc-ET)
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