Yes Bank shares rise ahead of resuming services

The shares of retail banking company, Yes Bank, jumped around 50 per cent during Wednesday’s trade as the bank is set to resume full banking services from 6 pm today.

CEO-designate of Yes Bank, Prashant Kumar had earlier informed that there are no worries on the liquidity front at the moment and banking services will be restored in the later part of the day, adding that if there will be too much rush, the branches would remain open even on weekends.

It is being presumed that the bank might witness a heavy withdrawal of deposits as soon as the services get resumed.

Nevertheless, on March 5, RBI had imposed a moratorium on the private-lender bank. For more information, click here:

https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/11845/Capital-starved-Yes-Bank-tanks-85-per-cent

Apart from normal functioning, the withdrawal cap of Rs 50,000 is set to be lifted today. Moreover, Yes Bank will now also be allowed to advance loans which had been barred by the central bank.

Besides, several private and public sector financial institutions came together to infuse capital into the bank and help it get stabilised.  Read here:

https://www.dsij.in/DSIJArticleDetail/ArtMID/10163/ArticleID/11974/IDFC-Federal-Bandhan-banks-to-invest-in-Yes-Bank

At the time of market closing on Wednesday, the stock of Yes Bank Ltd was trading at Rs 60.80, up by 3.67 against its previous close of Rs 58.65. Its 52-week high is Rs 404.00 while, its 52-week low is Rs 5.55 on BSE.