Snehal khanna Blog

Given the expertise, focus and core competency of mobile wallet players like Paytm and Mobikwik, it makes more sense for banks to partner such players than building or pushing own e-wallet apps LATEST NEWS : An accelerated digital adoption in India, especially after the Narendra Modi government’s November 2016 move to demonetise high-value currency notes, and the subsequent spike in electronic payments, are credited with scripting a success story for mobile wallet companies. And, with a loss of market share in the payments space that ensued, banks also jumped on the bandwagon and launched their own e-wallets. Now, however, with their wallet customer base, user interface and innovation not matching well enough with the numerous offers that niche wallets provide, banks are struggling to compete. On the post-demonetisation digital drive, Ritesh Pai, chief of digital office, YES Bank, says: “Some users who never had an active interface with the banking system also embraced pre...

Since July 3, the bank announced the stock split plan the stock outperformed the market by surging 29% against 3.5% rise in Sensex LATSET NEWS :  Yes Bank hit a new high of Rs 383, up 2% on BSE in early morning trade after the stock turned ex-stock split in the ratio of 1:5 with effect from today. The board of Yes Bank on July 26, 2017 had approved stock split in the ratio of 5 for 1, i.e. sub-division of 1 equity share of face value of Rs 10 each fully paid up into 5 equity shares of Rs 2 each fully paid up. The bank has fixed Friday, September 22, 2017 as record date for determining the eligibility of shareholders, with regards to sub-division equity shares. In order to facilitate affordability of the company’s shares for investors at large and to enhance the liquidity of the company’s equity shares in the stock market, the most of companies proposed to bring down the nominal face value of equity shares. Since July 3, the bank announced the stock split pl...

RBI had assessed that yes Bank had Rs 4,930 crore of bad loans against actual reported Rs 750 crore Even after asset quality review of the Reserve Bank of India (RBI), private sector banks probably continued to hide a large chunk of their bad assets. But now those assets are all scheduled to come up in public glare as the central bank recently brought out a rule that mandated banks to disclose RBI assessed bad debt numbers, if the divergence between the central bank’s assessment and the bank’s actual assessment was more than 15 per cent. Yes Bank Ltd., which raised capital through qualified institutional placement route in the end of March, reported in its annual report that RBI has pegged its total gross NPA at 5 per cent for fiscal year 2015-16, against the bank’s own assessment of only 0.76 per cent for that financial year. According to Credit Suisse, Axis Bank’s NPAs were higher at 4.5 per cent of loans (vs 1.78 per cent reported) and at ICICI Bank, the NPA numb...