Yes Bank NPA Divergence of Rs 3,277 Crore

Yes Bank also said that its board of directors would meet by the end of November to finalize capital raising plans.

Yes Bank in a notification on 19 November revealed a deviation in reporting of Rs 3,277 crore of non-performing assets (NPAs) for FY 2018-19.

The Reserve Bank of India (RBI) had estimated gross NPAs of Rs 11,159 crore, with the bank disclosing NPAs of Rs 7,882 crore, resulting in a 41 percent drop. The decline in net NPAs stood at Rs 2,299 crore, which was 51 percent of net NPAs reported by the bank.

By March 2019, the bank had said to make a provision of Rs 978 crore. Of this, a provision of Rs 346 crore was made till 30 September, while the requirement of the additional provision was Rs 632 crore.

RBI norms stipulate that banks must disclose any deviation in excess of 15 percent to investors within one day of receiving the RBI report.

Yes Bank said in the announcement, "In the current financial year, the bank has made material policy & personnel changes to ensure full regulatory compliance."

Yes Bank also said that its board of directors will meet by the end of November to finalize capital raising plans.

Yes Bank in a notification on 19 November revealed a deviation in reporting of Rs 3,277 crore of non-performing assets (NPAs) for FY 2018-19.

Last month, the bank said it had received a $ 1.2 billion binding investment offer from a North American investor. Bank CEO Ravneet Gill had said that the bank has more than $ 3 billion worth of offers on the table. However, the lender has yet to call on the fundraising.

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