[MDED]

Originally Posted by ValarMorghulis

My only positive experience in SBI has been for the home loan. The staff was very cordial and helpful. They clarified all my doubts and cleared the loan proceedings and disbursed the amount in less than 10 days.
That said, SBI is still the most trustworthy and they know it.

Locker availability in Rural and Semi-Urban branches are more as compared to the Metro Branches and precisely for the same reason, lockers are not given to everyone on the earth and some lockers are kept in reserve for the branch's cream customers who place their lot of deposits or are vintage customers of the branch who has referred business to that particular Branch. Hence, the Branch Heads, exercise their judicial understanding in allotment of lockers. RBI norms prescribe insistence on FDs to cover three years locker rent and break open charges (if needed).

Your great experience with SBI with regards to the processing of Home Loan is precisely because, they have a dedicated Home Loan and other structured retail asset products processing centres known as Retail Asset Centralized Processing Centre (RACPC) which specialise in processing of these proposals sourced by the Branches and the direct sales associates (DSA). Nowadays, more or less all PSBs have these RACPCs by the names of Retail Loan Hub, Baroda Loan Factory, RAC, etc.

Originally Posted by Pequod

Takes one to know one, right . Am going on my 16th year now, and how this industry has changed is amazing. All the accountability, and none of the perks.

I can fully understand your situation. Will PM you to know which Bank and where?

[saket77]

Unprecedented:

If you are a retail investor holding more than 100 shares of Yes Bank as of today, then you will not be able to sell more than 25% of your holding as per the latest notification. This is done to provide some stability in the share prices of the recovering bank. If you are holding less than 100 shares, then there is no such restriction.

Source: https://www.cnbctv18.com/finance/bad...rs-5482441.htm

[whitewing]

Originally Posted by saket77

Unprecedented:

That surely is unprecedented! I guess this wouldn't affect a retail investor where as a retail trader/Punter may get impacted.

[pganapathy]

Originally Posted by saket77

If you are a retail investor holding more than 100 shares of Yes Bank as of today, then you will not be able to sell more than 25% of your holding as per

This is a very risky gamble the government is taking. It will prevent a run on Yes Bank at the moment, but in the long run it reduces trust in the stock markets, meaning investors will put the changing of rules at a whim into the risk column and either price for it or avoid investing in the market

[V.Narayan]

Originally Posted by saket77

Unprecedented:

If you are a retail investor holding more than 100 shares of Yes Bank as of today, then you will not be able to sell more than 25% of your holding as per the latest notification. This is done to provide some stability in the share prices of the recovering bank. If you are holding less than 100 shares, then there is no such restriction.

Source: https://www.cnbctv18.com/finance/bad...rs-5482441.htm

Unprecedented and unacceptable. It will prevent the Yes Bank share from dropping further and deny others (like me) from buying it up. :-(

Sad bureaucratic mentality thinking in terms of quotas and limits and rationing. These folks forget that for every large seller there is somewhere a buyer!

[Oxy]

Received the following email from Yes Bank. Looks like they will resume operations from tomorrow.
===================================

Dear Customer,

Further to the email dated, March 10, 2020, we are happy to apprise you that YES BANK will resume full banking services from Wednesday, March 18, 2020, 18:00 hours IST. We invite you to any of our 1,132 branches across India from March 19, 2020, post commencement of banking hours to experience the full suite of our services.

Keeping customers at the core, the Bank has been able to resume services within an expeditious timeframe under the guidance and direction from the Reserve Bank of India. Furthermore, with the backing of the State Bank of India (SBI), India’s largest public sector bank and private sector banks, YES BANK stands recapitalized with reinforced liquidity and highest standards of ethics and governance.

You will be able to access all our services including digital services and platforms. The timely resumption of these services have been possible due to the strong technology infrastructure of the Bank as well as the commitment of our employees who have worked round the clock to minimize the inconvenience caused to you.

The Bank has now emerged stronger and we look forward to achieving new milestones with the support of customers like you. We are committed to serve you and assure you on the safety of your deposits at the Bank, as our long term commitment to delivering an elevated banking experience remains unwavering.

We acknowledge that as our customers, you may have experienced an increased level of anxiety and apprehension owing to a temporary pause in our services. As a Bank, we are sensitive to your concerns and financial needs, and look forward to servicing you with renewed vigour.

Once again, we thank you for your patience over the past several days and we are grateful for your continued support.

Your trust and our success is not an entitlement, and that is something we are working on to earn, every day.

Sincerely,

Prashant Kumar
Administrator – YES BANK
(Appointed by the Reserve Bank of India)

[ValarMorghulis]

What's happening with the Yes bank share? It jumped nearly 50% yesterday and has already jumped 60% as of now. Pump and dump won't work either due to the 3 year lock on 75% share.

[Relax&Cruise]

Originally Posted by nagr22

This is outright ridiculous! Why should I pay my Yes bank credit card dues from 'other' bank accounts when our money is stuck in Yes bank itself?? It would have made sense had they decided to let us pay from Yes bank!

I paid my yes bank credit card due from my yes bank account on the 10th of March no need to use "other bank."

[whitewing]

Originally Posted by ValarMorghulis

What's happening with the Yes bank share? It jumped nearly 50% yesterday and has already jumped 60% as of now. Pump and dump won't work either due to the 3 year lock on 75% share.

Looks like a temporary phenomenon https://www.livemint.com/market/mark-to-market/why-yes-bank-has-suddenly-become-the-sixth-largest-bank-by-market-cap-11584434460494.html
"This isn’t a case of irrational exuberance. The rally in the shares is being caused by a scarcity in the shares after a regulatory diktat that 75% of shares held by existing shareholders will be locked-in. As such, the free float in Yes Bank fell from about 255 crore shares last Friday to about 63.75 crore shares currently.
That’s not all. As of last Friday, when the lock-in kicked in, futures position of 24.52 crore shares were outstanding.
"

Originally Posted by V.Narayan

Unprecedented and unacceptable. It will prevent the Yes Bank share from dropping further and deny others (like me) from buying it up. :-(
Sad bureaucratic mentality thinking in terms of quotas and limits and rationing. These folks forget that for every large seller there is somewhere a buyer!

Reading the above article, there seem to be more traders, than investors on the buy side now and in some time once trader interest drops, prices "may" drop to realistic values.
I use ICICIDirect for my share investments, they periodically publish what the subscribers on the platform were buying & selling. Since the past few months the Yes bank shares have been consistently one of the top trades by both retail investors and HNIs.

[ruzbehxyz]

Yes Bank repays full Rs 50,000 crore to RBI, says no merger plans with SBI

“We have fully repaid the entire sum of Rs 50,000 crores of SLF to RBI as on September 8,” Mehta told shareholders. The special liquidity line was extended to Yes Bank in March when it was coming out of the moratorium to make up for any large deposit withdrawals. Its window was first given for a three month period and later extended till mid-September. The Chairman added that since Yes Bank’s reconstruction in March, it had received “strong customer liquidity inflows,” and that deposits were accruing on a monthly basis now.

Addressing investor queries on whether the bank was going to be merged with State Bank of India eventually, Mehta said that no such plans were afoot. He added that neither the bank nor any authority had discussed such a proposal as far as he knew.

Some investors at the bank raised concerns about the bank’s decision to freeze their stake for a number of years after its reconstruction. Prashant Kumar, the MD & CEO of the bank responded to that saying the decision to freeze shares for the next 3 years was taken keeping the larger interest of all shareholders in mind.

The CEO said that the bank was able to bring down costs by almost 20 percent in the first quarter, and has now appointed a consultant to look at medium and long term cost rationalisation measures. Kumar alluded to the fact that holding a virtual annual general meeting (AGM) had enabled the bank to save as much as Rs 90 lakhs. “It cost us Rs 1 crore to hold the (physical) AGM last year, and this year it only cost us Rs 10 lakhs,” he said, adding that the bank would take guidance from its shareholders on whether to continue with this format.

Speaking about the bank’s financial performance, Prashant Kumar said that a dedicated team of 80 people was working only on recovery of legacy bad loans, and he hopes that a substantial portion of the book would have been recovered over the next two to three years.

“We are working to expand the balance sheet size…We target to double the deposit base by end of the next financial year, and we Want to increase the loan book by 10 percent in this financial year and 20 percent in the next financial year,” he added. He said that the bank would target growing the retail book to 60 percent of the total loan portfolio, from 45 percent currently.

“We will ensure we do not commit mistakes of the past. Lots of steps have been taken to improve risk management practices and credit underwriting skills at the bank,” he told shareholders.

Source: https://www.cnbctv18.com/finance/yes...bi-6871261.htm

[ruzbehxyz]

Chairmain of Yes Bank Mr Sunil Mehta speaking:

https://youtu.be/pwcjp7sb3iI

[V.Narayan]

Originally Posted by ruzbehxyz

Chairmain of Yes Bank Mr Sunil Mehta speaking:

https://Youtu.be/pwcjp7sb3iI

Thank you for sharing. I missed this. Sunil is a man of principle and integrity. I have seen it at first hand for over 25 years. Even though he is the non-executive Chairman I can visualize him exercising significant influence on governance and good practices. Good for this bank.

[anivy]

A little over 3 years after SBI & LIC rescue Yes Bank, the rescued bank got a new logo.

The GIF above was sourced from an email the bank sent.

Source