Is Yes Bank FD Safe Now?

Will Yes Bank shut down?

The bank cannot be shut down nor can it be merged.

Yes Bank will be managed and run as an independent and private sector bank by a professional board with no interference by SBI in its day-to-day affairs, Kumar said.

Under RBI’s Yes Bank Ltd Reconstruction Scheme 2020, SBI will take up to 49% stake at ₹10 per share..

Who is the CEO of Yes Bank?

Prashant Kumar (Mar 6, 2020–)Yes Bank/CEO

Can Yes Bank recover?

YES Bank’s offer to ARCs will be to recover at least 15 per cent amount i.e. Rs 5,000 crore upfront. … On October 26, 2020, the lender recorded a net profit of Rs 129.37 crore for the September quarter compared to Rs 600.08 crore loss posted for the same period last year.

Which bank FD is best?

IndusInd BankIndusInd Bank is the topmost bank for 1 year FD as it offers the highest interest rate of 7.00% on deposits of this tenure….Banks Providing Best FD rates for 1-year Tenure.1 Year FD RateBanks with this rate6.75%Jana Small Finance Bank6.60%Equitas Bank6.50%Yes Bank6.50%IndusInd Bank1 more row•Dec 16, 2020

Is it good time to invest in Yes Bank?

The shares of Yes Bank have not gone up a great deal since the follow on public offer. The next 1-2 years would be important for the bank, though we feel that it is back on track. Investors who hold the stock for a period of 2-3 years, might see decent returns. At the moment it looks that the bank is out of the woods.

Is it good to invest in Yes Bank?

Baliga thinks YES Bank is back on track, but the turnaround will take a bit more of time. “No fortunes will be made overnight. Investors need to be patient and hold on for a long time for better performance,” he said. … Brokerage Firm Emkay Global has a ‘sell’ rating on the YES Bank stock with a price target of Rs 9.

What is the current situation of Yes Bank?

The bank made a loss of Rs 6,547 crore in 2017-18. Its net profit was Rs 862.23 crore in 2018-19. The current year 2019-20 is looking better with over Rs 10,000 crore worth profit till December 2019 but the YES Bank rescue will surely put some burden.

Which banks are safe for FD?

And these are State Bank of India (SBI), HDFC Bank and ICICI Bank. Only three for now. RBI may add to this list in future as better and stronger banks emerge. So you can say that these are the safest bank for fixed deposit in India.

Who will takeover Yes Bank?

Collectively, LIC and SBI will acquire the 49% stake for Rs 490 crore, according to a report in the Economic Times. The stake acquisition has been approved by the RBI to rescue Yes Bank. The SBI board had late on Thursday also given the (SBI) bank an “in-principle” approval to invest in the capital-starved Yes Bank.

Can SBI invest in Yes Bank?

India’s largest lender State Bank of India on Wednesday said its board has approved an investment of up to Rs 1,760 crore in the follow-on public offering (FPO) of YES Bank. … SBI is the largest holder in YES Bank with a 48.21% stake, followed by ICICI Bank at 7.95% and Axis Bank at 4.78%.

Which bank is safest in India?

List of Best, Safe Banks in India1) HDFC Bank. If market confidence is a measure of the soundness of a Bank, then HDFC Bank takes the cake. … 2) State Bank of India. … 3) ICICI Bank. … 4) AXIS Bank. … 7) Kotak Mahindra Bank, IndusInd Bank.

Which bank is offering highest FD rates?

Bank NameInterest rate (%) compounded qtrlyWhat Rs 10,000 will grow intoAU Small Finance Bank6.5013,804Indusind Bank6.5013,804RBL Bank6.4013,736Ujjivan Small Finance Bank5.8013,3361 more row•3 days ago

Who is owner of Yes Bank?

Rana KapoorRana Kapoor, Founder, Managing Director & CEO, YES BANK received the ‘Entrepreneurial Banker of the Decade’ award from the Bombay Management Association today. The award was presented by Mr. K.N. Vaidyanathan, Executive Director, Securities and Exchange Board of India (SEBI) at the 14th Annual Convention in Mumbai.

Will Kotak takeover Yes Bank?

Kotak Mahindra Bank will acquire 50 crore equity shares of Yes Bank at Rs 10 per share, the bank informed the exchanges in a release on March 13.

Does Yes Bank have a future?

Deposits have grown by 29% in past 6 months, management has indicated deposit growth could be around 50% going forward in future. This indicates liquidity position of Yes Bank is only going to improve from here on.