YES Bank shares lost 94% in 11 months

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Mumbai, Ta. 06 Mar 2020, Friday

After the Reserve Bank of India imposed sanctions on Yes Bank, Finance Minister Nirmala Sitharaman, Reserve Bank Governor Shaktikanta Das and other banking giants have repeatedly made assurances that those who have deposited money in the bank should not worry, their deposit time is safe, Only notified and before that the problem of the bank will be resolved. However, even if the amount of a bank deposit (ie a savings account, current account or fixed deposit) is safe, what about the equity shareholder who pays the capital for the country? He raised the risk and raised the capital and gave it to the bank and on the basis of which the bank was operating for five years, why not secure their capital? No response is available on this.

When the market opened on Friday, Yes Bank's shares fell 5 percent against Thursday's close. At one point, 5 per cent had fallen to just Rs 1.8, and at the end of the day it was down to 8.5 per cent. In today's single day, investors have lost Rs.

It has been a year since the complaint was raised in the YES bank that corporate governance was not the right of the officers. Yes Bank was in trouble since it came out that the bank had hidden its NPA in an audit conducted by the Reserve Bank. IL&FS weakened and in the crisis that followed, it turned out that the bank was financed by the weak companies or industries.

The bank's NPAs increased due to these weak companies and then the need for capital of the bank also increased, so there was a sudden problem with this bank. Don't Yes Bank's total share price in the last one year was Rs. On April 7, Rs. Was 1.2 and at that time the market value of the bank was Rs. 5 crore. In the last six months, the bank's share price has fallen by 5% and investors have lost Rs. Even though this erosion continues, why is the interest of investors not protected?

The way the assets have been eroded in the bank, it seems that no consideration is being made to protect the interests of the investors. The Reserve Bank has been monitoring the Yes Bank for five years. The company's founders were given water, the central government was aware of every move of the Reserve Bank since March 7. New CEOs were appointed. The bank's operations and administration were poor, the bank's credit policy was aware of the risks and the bank was not complying with the rules and policies of the Reserve Bank. Nevertheless, it is a matter of concern that Sebi, who defends the interests of the bank's investors, has remained silent and is still silent.

It is argued that the investor is aware of his own risk and therefore his interests should not be protected. Depositors put their savings in the bank so they should be protected. This is not the case.

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