With the government coming down hard on black money, analysts say the real estate sector will be among the worst hit given the high usage of cash.

Stocks of companies in the realty segment have been on a downward spiral since the demonetisation was announced. Banks, on the other hand, have been grappling with high stressed assets / non-performing loans. Will the demonetisation add to their woes?

MUMBAI: Private sector lender Yes Bank has launched “Yes Mobile 2.0” its new mobile banking app with multiple new features and extensive support for banking transactions on Apple and Android based SmartWatches. The app is compatible with all mobile devices including Android tablets and Apple iPads in addition to smartphones and wearables.

With multiple added functionalities and a customisable interface Yes Mobile 2.0 will replace the older Yes Mobile application that was being used by bank customers.

YES Bank has tied up with ToneTag, a company that uses sound waves to allow data transfer, thereby letting users make payments even when they are offline.

YES Bank and the "proximity communication company" ToneTag, have tied hands to allow for "sound-based contactless payments on the YES Pay mobile wallet, a statement said.

YES Bank has moved higher by 2.5% to Rs 1,324 on the National Stock Exchange (NSE) after the bank reported a better-than-expected 31% year on year (YoY) growth in net profit at Rs 802 crore for the quarter ended September 30, 2016 (Q2FY17). The private sector lender had profit of Rs 610 crore in year ago quarter.

“Net Interest Income grew 30.5% YoY to Rs 1,446 crore on back of robust growth in advances & CASA. Net interest margin (NIM) expanded to 3.4% in Q2FY17 from 3.3% a year ago,” YES Bank said in a statement.

Non-food credit in the banking system grew 10.6% year-onyear during the fortnight ended September 30, up from 9.3% in the previous fortnight, as loan demand improved with the advent of the festive season.

Non-food credit at the end of the fortnight under review stood at R74.35 lakh crore, according to data released by the Reserve Bank of India. Growth in deposits with banks also grew 11.3% y-o-y, against 9.9% in the previous fortnight, to R101.43 lakh crore – the first time total banking deposits crossed the R100 lakh crore mark.

Shares of YES Bank fell nearly 4% on Thursday after a media report suggesting that market regulator Sebi had found the bank violated rules, elicited a response from the bank.

A report in Mint newspaper, said that the Securities and Exchange Board of India (Sebi) had found reason enough to file adjudication proceedings against the bank and its investment bankers over the recent failed $1-billion QIP issue.

Private sector lender Yes Bank plans to raise up to Rs 2,500 crore by issuing long-term bonds on a private placement basis.

"The bank proposes to raise funds by issuing senior unsecured listed rated redeemable long-term bonds in the form of debentures amounting to Rs 1,000 crore, with a green shoe option for an additional amount up to Rs 1,500 crore on a private placement basis," it said in a regulatory filing.

Private lender Yes Bank today said it will raise about Rs 330 crore ($50 million) by issuing a

7-year term green infrastructure bond to FMO, the Dutch Development Bank, on a private placement basis.

Mumbai: The Securities and Exchange Board of India (Sebi) is examining whether its listing norms were breached in Yes Bank’s aborted $1 billion qualified institutional placement (QIP), said five people familiar with the matter, including officials of the capital markets regulator.

Sebi is also looking into the possibility of entities trading the stock on the basis of insider information, the people said on condition of anonymity.

YES Bank has dipped nearly 6% to Rs 1,202 in intra-day trade, extending its over 10% decline in the past three trading sessions on the BSE, after the private sector lender said it has deferred its proposed qualified institutional placement (QIP) of shares.

At 10:56 am, the stock was down 4.5% at Rs 1,219, falling 15.4% in past four trading sessions from Rs 1,441 on September 9, wiping out nearly Rs 9,500 crore in investor wealth. The S&P BSE Sensex has declined 2% during the same period.

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