Mumbai, Aug. 25: The RBI has approved an extension of the term of Rana Kapoor as the managing director and chief executive officer of Yes Bank for three years.

"Pursuant to approval of the board of directors and the approval of shareholders at the 11th annual general meeting (AGM) held on June 6, Yes Bank has received approval from the RBI for the re-appointment of Rana Kapoor as MD & CEO for a period of three years," the bank said in a statement.

Banking shares are under pressure falling by up to 7% on the National Stock Exchange (NSE) in noon deal trade.

Yes Bank, Oriental Bank of Commerce, Union Bank of India, Punjab National Bank, Allahabad Bank, Bank of India and Bank of Baroda are down between 5%-7% on the NSE.

India’s largest lender, State Bank of India is slated to launch its mobile wallet, SBI Buddy, on Tuesday, an ET report has said.

With this, SBI will be entering into the fast-growing mobile wallet business, which already has players like HDFC’s PayZapp, ICICI Bank’s Pocket.

Yes Bank today said it has raised Rs 315 crore through issuance of Green Infrastructure Bonds to International Finance Corporation - a member of World Bank Group - on a private placement basis.

This is the first investment of IFC in emerging markets green bond issue in the world, Yes Bank said in a statement.

Shares of Yes Bank Ltd rallied 3% on Wednesday following the June quarter earnings announcement, which was more or less in line with the estimates. Net profit grew over 27.7% to Rs.551 crore compared with the year ago period.

The positive stock reaction could be attributed to buying at lower levels after the recent sell-off.

YES Bank has filed an appeal against the Bombay High Court judgment in the YES Bank and Madhu Kapur case. The court order was made public on June 17 but had been stayed for operations for a period of five weeks which ends on Tuesday.

However, with the new appeal, the order had been stayed for operations till August 4, which is the next date for hearing. According to the judgment, the court had termed “invalid” the appointment of two directors on YES Bank's board and declared that the proposed appointments of three others — Rajat Monga, Sanjay Palve and Pralay Mondal — were void.

MUMBAI: Shaken by the online shopping frenzy, a string of high-street banks like SBI, Axis and Yes will launch mobile wallets to take on pre-paid issuers like Paytm and MobiKwik who lure customers with easy payment option and attractive retail offerings.

M-wallets — electronic saving accounts that can be used for shopping using mobile handsets — would help banks overcome the edge that pre-paid users have.

MUMBAI: YES Bank, India's fifth-biggest private sector lender by assets, has asked market regulator Sebi to probe the "intentions" of analysts of brokerage UBS, who, in a recent report, had painted a bleak picture of the bank's finances if its borrowers were to default.

The bank alleged that UBS' analysts did not make "full and fair disclosure" of their "interests" before publishing the report.

YES Bank has completed the placement of Rs 554 crore of Basel-III compliant Tier-II bonds at a coupon rate of 9.15 per cent with a tenor of 10 years.

The issue closed on June 29 and the bank said it witnessed strong demand from investors, including insurance companies and pension and provident funds, resulting in a total subscription. The management said the capital had been raised to augment the bank's capital base and to employ it for growth.

Shares of YES Bank have dipped 7% to Rs 800 on the NSE after foreign brokerage UBS downgraded the private sector lender to ‘Sell’ with a price target of Rs 740.

The stock hit a low of Rs 795 so far and has seen a combined 7.02 million shares changing hands on the counter on the NSE and BSE till 1253 hours.

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