Not quite yet. But as the new management steers it out of the woods, shareholders may have reason to smile again.
It was 14 March 2020, a Saturday, just nine days after the Reserve Bank of India had moved to save what was then India’s fourth largest private bank—Yes Bank—from collapse. The previous day, a rescue plan for the bank had been given the go-ahead. The bank was now slated to announce the much-delayed third quarter results for 2019-20. The results were anticipated before noon.
Inside the head office of Yes Bank at One Indiabulls Centre in Lower Parel, Mumbai, Prashant Kumar, the then administrator of the bank, was taking stock of the situation. He wanted to provide for all the …
Advait is a financial journalist and a former writer at The Morning Context. Here, he wrote on India’s banks, the wider financial services industry and the fintech ecosystem. He has previously worked with the Economic and Political Weekly, Business Standard, BloombergQuint and MediaNama, where he covered everything from the Reserve Bank of India to fintech policy.
Writer
advait@mailtmc.com
Mumbai
Furquan leads the banking coverage at The Morning Context. A business journalist with eight years of experience and a best-selling author, in his earlier stints as a reporter with the Deccan Herald and a columnist at The Banker, he wrote on banking, financial markets and regulatory affairs. He has extensively covered India's debt market crisis, banking crisis and the fall of Yes Bank.
Editor, Banking
furquan@mailtmc.com
Delhi