The firm has downgraded the lender's tier-I bond from "AA-" to "A" and tier-II bonds from "AA" to "AA-" The outlook is negative on both bonds, the bank said in a press note to the exchanges.
Share price of banking major YES Bank fell over 3 percent intraday on Monday after research form ICRA downgraded the bank's long-term bond ratings and guided for a negative outlook.
The bank's ability to resolve below rated advances in a timely manner will remain a key driver of its asset quality, profitability and capital position, said ratings agency ICRA. This was the stock’s worst intra-day per cent fall since April 30. It was down 3.3 per cent this year, as of the last close.
The firm has downgraded the lender's tier-I bond from "AA-" to "A" and tier-II bonds from "AA" to "AA-" The outlook is negative on both bonds, the bank said in a press note to the exchanges.
Also, Reserve Bank of India has imposed a penalty of Rs 11.25 lakh on it for violating money transfer norms. "(The) Reserve Bank of India (RBI) vide its speaking order dates April 22, 2019, imposed a penalty of Rs 11,25,000 under the Payment and Settlement Systems Act, 2007," Yes bank said in a regulatory filing.
The RBI has identified certain violations of its circular of 2011 on Domestic Money Transfer - Relaxations and master directions issued in October 2017 on issuance and operation of prepaid payment instruments in connection with certain product features for an open loop prepaid card (co-branded) previously issued by the bank, Yes Bank said.
At 11:42 hrs Yes Bank was quoting at Rs 170.25, down Rs 5.35, or 3.05 percent. It has touched an intraday high of Rs 171.90 and an intraday low of Rs 167.30.
To get profitable financial guidance, give one missed call on 9644405057. We offer 2 days of free trial. Our packages are affordable. Click here to visit our website: Best Stock Option Tips Provider
No comments:
Post a Comment