Yes Bank

In 1997–98, three Mumbai-based bankers–Rana Kapoor, Ashok Kapur and Harkirat Singh–co-founded Rabo India Finance in partnership with Rabobank of the Netherlands.{{cite news |last1=Saha |first1=Manojit |title=Rana Kapoor: The rise and quick downfall of a maverick banker |url=https://www.thehindu.com/news/national/yes-bank-crisis-rana-kapoor-the-rise-and-quick-downfall-of-a-maverick-banker/article61964892.ece |access-date=5 December 2024 |work=The Hindu |date=8 March 2020 |language=en-IN}} In early 2003, the three bankers started Yes Bank with proceeds from selling their stakes in Rabo India Finance.{{cite news |last1=Karnik |first1=Madhura |title=How Yes Bank’s Rana Kapoor went from being an intern at Citibank to India’s newest billionaire |url=https://scroll.in/article/827466/how-yes-banks-rana-kapoor-went-from-being-an-intern-at-citibank-to-indias-newest-billionaire |access-date=5 December 2024 |work=Scroll.in |publisher=Quartz |date=24 January 2017 |language=en}} Harkirat Singh resigned in April 2003 citing concerns over Rabobank's influence in appointing a leader for Yes Bank.{{Cite web |last=Dutta |first=Prabhas |title=Rapid rise and free fall of Yes Bank in 10 years after co-founder died in 26/11 attack |url=https://www.indiatoday.in/news-analysis/story/yes-bank-rana-kapoor-1653955-2020-03-09 |access-date=2023-01-31 |website=India Today |date=9 March 2020 |language=en}}{{cite news |last1=Bhoir |first1=Anita |title=History repeating itself at Yes Bank, says Harkirat Singh|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/history-repeating-itself-at-yes-bank-says-harkirat-singh/articleshow/20771853.cms |access-date=5 December 2024 |work=The Economic Times |date=26 June 2013}}

In May 2004, Yes Bank obtained banking license from the Reserve Bank of India (RBI).{{cite news |last1=Alexander |first1=George Smith |title=YES Bank in a spot as top brass says ‘No’ |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-in-a-spot-as-top-brass-says-no/articleshow/808319.cms |access-date=5 December 2024 |work=The Economic Times |date=14 December 2006}} Initially, Rana Kapoor and Ashok Kapur each held 26% in the bank, Rabobank owned 20%, newly-appointed directors were allocated 3% and private equity firms held the remaining 25%.{{cite news |last1=Smith Alexander |first1=George |title=Rana Kapoor to exit Rabo, take up Yes Bank reins |url=https://www.rediff.com/money/report/rabo/20031106.htm |access-date=5 December 2024 |work=Rediff |language=en}} The bank opened its first branch in August 2004.

Yes Bank was listed on the stock exchanges of India after its IPO in June 2005 at a face value of {{INR|10}} and an issue price of {{INR|35}}.{{cite web|url=http://economictimes.indiatimes.com/yes-bank-ltd/ipos/companyid-16552.cms|title=YES Bank IPO: Offer & Issue Details|work=The Economic Times|access-date=14 October 2017}}{{Cite web|title=YES Bank IPO Review - YES Bank IPO Dates, Issue Price, Subscription and Allotment Status|url=https://economictimes.indiatimes.com/yes-bank-ltd/ipos/companyid-16552.cms|access-date=2021-11-06|website=The Economic Times}}

In November 2008, co-founder and non-executive chairman Ashok Kapur was killed at the Trident Hotel during the 26/11 terrorist attacks in Mumbai.{{cite news |title=Yes Bank Chairman Ashok Kapur killed |url=https://www.business-standard.com/article/finance/yes-bank-chairman-ashok-kapur-killed-108112901018_1.html |access-date=5 December 2024 |work=Business Standard |date=29 November 2008}}

In September 2016, Yes Bank scrapped its proposed $1 billion share sale due to market conditions.{{cite news|url=http://economictimes.indiatimes.com/markets/stocks/news/yes-bank-says-no-to-share-sale-after-scrip-tanks/articleshow/54190552.cms|title=Yes Bank says no to share sale after scrip tanks|date=9 September 2016|access-date=14 October 2017|newspaper=The Economic Times}}{{cite news|url=http://economictimes.indiatimes.com/markets/stocks/news/yes-banks-opportunism-is-to-blame-for-failed-share-sale/articleshow/54253558.cms|title=Yes Bank's opportunism is to blame for failed share sale|date=10 September 2016|access-date=14 October 2017|newspaper=The Economic Times}} The company subsequently attempted to relaunch its failed capital raising exercise after appointing a new set of bankers.{{cite web|url=http://www.business-standard.com/article/finance/yes-bank-may-appoint-new-i-banks-for-qip-116102000742_1.html|title=Yes Bank may appoint new i-banks for QIP|first1=Samie|last1=Modak|first2=Nupur|last2=Anand|date=20 October 2016|access-date=14 October 2017|work=Business Standard}}{{Cite journal |last1=Ramchandani |first1=Kumar |last2=Jethwani |first2=Kinjal |date=2021-01-01 |title=Yes bank: an untold story |url=https://doi.org/10.1108/EEMCS-04-2020-0123 |journal=Emerald Emerging Markets Case Studies |volume=11 |issue=1 |pages=1–37 |doi=10.1108/EEMCS-04-2020-0123 |s2cid=235545683 |issn=2045-0621|url-access=subscription }}

By early 2020, the financial position of Yes Bank had deteriorated as it had been unable to raise capital. This had resulted in potential loan losses, which in turn led to downgrades and prompted investors to invoke bond covenants, and a withdrawal of deposits by customers.{{Cite web |last=Adhikari |first=Anand |date=2020-03-05 |title=Why did Yes Bank collapse? Here are 6 main reasons |url=https://www.businesstoday.in/industry/banks/story/6-reasons-why-yes-bank-collapsed-251442-2020-03-05 |access-date=2023-01-31 |website=Business Today |language=en}}{{Cite web|date=2020-09-11|title=Yes Bank Chairman Sunil Mehta assures speedy recovery, thanks RBI, SBI, HDFC Bank, ICICI Bank for lending support|url=https://www.zeebiz.com/companies/news-yes-bank-chairman-sunil-mehta-assures-speedy-recovery-thanks-rbi-sbi-hdfc-bank-icici-bank-for-lending-support-135062|access-date=2021-11-06|website=Zee Business}}

On 5 March 2020, the RBI took over Yes Bank in a bailout provision. RBI reconstructed Yes Bank's board, naming Prashant Kumar, former chief financial officer and deputy managing director of State Bank of India, as its MD & CEO, along with Sunil Mehta, former non-executive chairman of Punjab National Bank, as the non-executive chairman.{{Cite news |title=SBI stake in YES Bank declines to 30% after FPO |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/stocks/news/sbi-stake-in-yes-bank-declines-to-30-after-fpo/articleshow/77205480.cms |access-date=2021-07-02}}{{Cite news |title=Fund Infusion Makes YES BANK SBI's new associate bank |work=Live Mint |url=https://www.livemint.com/news/india/sbi-invested-in-yes-bank-to-maintain-financial-stability-not-for-returns-11584336935747.html |access-date=2020-03-16}}{{Cite web |date=2020-03-06 |title=Who is Prashant Kumar, the person in-charge of Yes Bank from today |url=https://www.financialexpress.com/industry/banking-finance/who-is-prashant-kumar-the-person-in-charge-of-yes-bank-from-today/1890801/ |access-date=2021-11-06 |website=The Financial Express |language=en-US}}{{Cite web |last=PTI |title=Former SBI CFO Prashant Kumar Takes Charge As Yes Bank Administrator |url=https://www.bloombergquint.com/business/yes-bank-news-former-sbi-cfo-prashant-kumar-takes-charge-as-yes-bank-administrator |access-date=2021-11-06 |website=BloombergQuint |date=6 March 2020 |language=en}} Under the RBI's mandate, State Bank of India, HDFC Bank, ICICI Bank, Axis Bank and other financial institutions infused funds to help Yes Bank through a reconstruction scheme.{{Cite news|title=Union Cabinet approves Yes Bank reconstruction plan|work=The Economic Times|url=https://economictimes.indiatimes.com/industry/banking/finance/banking/union-cabinet-approves-yes-bank-reconstruction-plan/articleshow/74611656.cms?from=mdr|access-date=2021-11-06}}{{Cite web|date=2020-08-18|title=Yes Bank working on risk, governance after bailout: New CEO|url=https://www.livemint.com/companies/news/yes-bank-working-on-risk-governance-after-bailout-new-ceo-11597733674754.html|access-date=2021-11-06|website=mint|language=en}}

In July 2020, Yes Bank completed its follow-on public offer (FPO).{{Cite web|first1=Swaraj Singh|last1=Dhanjal|first2=Ashwin|last2=Ramarathinam|date=2020-07-17|title=Yes Bank manages to close its FPO with 95% subscription|url=https://www.livemint.com/industry/banking/yes-bank-manages-to-close-its-fpo-with-95-subscription-11594999390733.html|access-date=2021-11-06|website=mint|language=en}}

In April 2021, India's market regulator Securities and Exchange Board of India (SEBI) proposed a fine of {{INRConvert|25|c|year=2021|mode=historical}} on Yes Bank, stating that it had fraudulently sold certain risky bonds without the necessary warnings and risk assessments.{{Cite news |date=12 April 2021 |title=SEBI fines Yes Bank for fraudulent sale of riskier bonds |language=en |work=Reuters |url=https://www.reuters.com/article/india-sebi-yes-bank-idUSKBN2BZ1TB |url-status=live |access-date=12 April 2021 |archive-url=https://web.archive.org/web/20210412171320/https://www.reuters.com/article/india-sebi-yes-bank-idUSKBN2BZ1TB |archive-date=12 April 2021}}{{Cite news |date=2021-04-12 |title=SEBI fines Yes Bank for fraudulent sale of riskier bonds |language=en |work=Reuters |url=https://www.reuters.com/article/india-sebi-yes-bank-idUSKBN2BZ1TB |access-date=2021-11-15}} In May 2021, the Securities Appellate Tribunal (SAT) imposed an interim stay on SEBI's order.{{Cite web |last=Kaul |first=Abhinav |date=2021-05-24 |title=SAT stays Sebi penalty order in Yes Bank case |url=https://www.livemint.com/industry/banking/sat-imposes-interim-stay-on-sebi-penalty-order-in-yes-bank-at-1-case-11621847396057.html |access-date=2021-07-02 |website=mint |language=en}}

On 21 February 2023, it issued 2,13,650 equity shares to its employees under the company ESOP plan.{{Cite news |last=Market |first=Capital |date=2023-02-21 |title=Yes Bank allots 2.13 lakh equity shares under ESOP |work=Business Standard India |url=https://www.business-standard.com/article/news-cm/yes-bank-allots-2-13-lakh-equity-shares-under-esop-123022100844_1.html |access-date=2023-02-23}}{{Cite web|lang=en|url=https://www.thehindubusinessline.com/money-and-banking/yes-bank-is-sufficiently-capitalised-for-fy25-prashant-kumar-md-and-ceo/article67920027.ece|title=Yes Bank is sufficiently capitalised for FY25: Prashant Kumar, MD and CEO|website=Businessline|date=6 March 2024 |access-date=2024-03-13|archive-date=2024-03-12|archive-url=https://web.archive.org/web/20240312045417/https://www.thehindubusinessline.com/money-and-banking/yes-bank-is-sufficiently-capitalised-for-fy25-prashant-kumar-md-and-ceo/article67920027.ece}}

The State Bank of India (SBI), the largest scheduled commercial bank in India, is the largest shareholder in Yes Bank, holding 23.99% of the shares.{{cite web |last1=Kumar |first1=Shivendra |title=SBI jumps over 6% on YES Bank block deal buzz. Is PSU booking profit after recent surge? |url=https://economictimes.indiatimes.com/markets/stocks/news/sbi-jumps-over-6-on-yes-bank-block-deal-buzz-is-psu-booking-profit-after-recent-surge/articleshow/107517008.cms |website=The Economic Times |date=8 February 2024}} Yes Bank has also received investments from international private equity firms, namely Advent International and The Carlyle Group.{{cite web |title=Carlyle, Advent pick up 9.99% stake in Yes Bank, to pump in about ₹8,896 crore |url=https://www.thehindubusinessline.com/money-and-banking/carlyle-advent-pick-up-999-stake-in-yes-bank-to-pump-in-about-8896-crore/article66261412.ece |website=BusinessLine |language=en |date=14 December 2022}}{{cite web |title=Yes Bank clarifies rumors on asset quality concerns |url=https://elischolar.library.yale.edu/cgi/viewcontent.cgi?article=2573&context=ypfs-documents2 |website=Yale University}}

;Largest shareholders

Yes Bank operates in retail, MSME and Corporate banking sectors from 1,192 branches and 1,301 ATMs and cash recyclers in over 700 cities. It serves corporate and retail customers through retail banking and asset management services.{{cite news |date=24 September 2018 |title=Yes Bank board to meet Tuesday after RBI directive on Rana Kapoor's tenure |publisher=Live Mint |agency=PTI |url=https://www.livemint.com/Industry/EUp3Jqqaj7nAoKQ9cBpoyI/Yes-Bank-board-to-meet-Tuesday-after-RBI-directive-on-Rana-K.html |access-date=29 September 2018}}

In 2015, the bank ventured into green bond issuance to finance renewable energy projects like solar, wind, biomass, and small hydropower.{{Cite journal |last=Shekhar |first=Chandra |date=February 2025 |title=A Study: The Future of Banking and Its Impact on India's Financial Ecosystem |url=https://ijrpr.com/uploads/V6ISSUE2/IJRPR39047.pdf |journal=International Journal of Research Publication and Reviews |volume=6 |issue=2 |pages=4135 |issn=2582-7421}}

In October 2017, the bank launched a digital wallet known as Yes Pay, integrating with BHIM and UPI.{{Cite news |date=2017-10-30 |title=Yes Bank Bhim Yes Pay wallet unveiled; IndiaStack APIs and NPCI products now integrated, see how you benefit |language=en-US |work=The Financial Express |url=http://www.financialexpress.com/money/yes-bank-bhim-yes-pay-wallet-unveiled-indiastack-apis-and-npci-products-now-integrated-see-how-you-benefit/912484/ |access-date=2018-04-11}} On 3 November 2017, Yes Bank signed a MoU with the government to provide {{INRConvert|1000|c|year=2017}} financing for food processing projects.{{cite news |date=3 November 2017 |title=Yes Bank signs MoU with govt for Rs 1,000 cr financing |newspaper=The Economic Times |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-signs-mou-with-govt-for-rs-1000-cr-financing/articleshow/61485872.cms |access-date=11 April 2018}}

As of September 2018, Yes Bank had taken syndicated loans from eight large international entities including ADB, OPIC, European Investment Bank, banks in Taiwan and Japan for amounts ranging from US$30 million to US$410 million.{{cite press release|title=OPIC Signs Loan Agreement with Yes Bank to Support Small Business Growth in India|url=https://www.opic.gov/press-releases/2015/opic-signs-loan-agreement-yes-bank-support-small-business-growth-india|access-date=29 September 2018|publisher=OPIC}}{{cite web|title=Investor presentation 2018–19|url=https://www.yesbank.in/pdf/yes_bank_investors_ppt_q1fy18_19_inr|access-date=29 September 2018|publisher=Yes Bank}}

Yes Bank acquired a 24.19% stake in the direct-to-home (DTH) company, Dish TV, on 30 May 2020.{{Cite news|last=Laghate|first=Gaurav|title=YES Bank acquires 24% in Dish TV by invoking share pledges|work=The Economic Times|url=https://economictimes.indiatimes.com/markets/stocks/news/yes-bank-acquires-24-in-dish-tv-by-invoking-share-pledges/articleshow/76108625.cms?from=mdr|access-date=2021-11-13}}

In March 2024, Yes Bank became the official banking partner for the Indian contingent at the 2024 Summer Olympics in Paris.{{Cite news |date=2024-05-07 |title=Yes Bank partners Ebanx to facilitate cross-border e-commerce for customers |url=https://timesofindia.indiatimes.com/business/india-business/yes-bank-partners-ebanx-to-facilitate-cross-border-e-commerce-for-customers/articleshow/109912443.cms |access-date=2024-10-27 |work=The Times of India |issn=0971-8257}}

In May 2024, Yes Bank partnered with {{ill|EBANX|pt}}, a fintech company focused on cross-border e-commerce payments, to enable payments from India.{{Cite news |date=2024-05-07 |title=Yes Bank partners Ebanx to facilitate cross-border e-commerce for customers |url=https://timesofindia.indiatimes.com/business/india-business/yes-bank-partners-ebanx-to-facilitate-cross-border-e-commerce-for-customers/articleshow/109912443.cms |access-date=2024-10-27 |work=The Times of India |issn=0971-8257}}

YES Securities (India) Limited (YSIL), which was founded in 2013, is a fully owned subsidiary of YES Bank. It provides personalized financial services to Retail, HNI/UHNI, and Institutional clients, such as wealth broking, institutional equity sales and trading research.{{cite web |title=YES Securities (india) Limited Information - YES Securities (india) Limited Company Profile, YES Securities (india) Limited News on The Economic Times |url=https://economictimes.indiatimes.com/company/yes-securities-india-limited/U74992MH2013PLC240971 |website=The Economic Times |language=en}}{{cite web |title=Official Website for YES Securities |url=https://www.yesinvest.in/ |website=YES Securities}}

On 5 March 2020, the Reserve Bank of India (RBI) announced that, in the interest of its customers and depositors, it would suspend and supersede Yes Bank's board and impose a 30-day moratorium on its operations.{{Cite journal |last=Deb |first=Rajat |date=2021-06-01 |title=YES Bank fiasco: a corporate governance failure |url=https://doi.org/10.1007/s40622-021-00277-7 |journal=Decision |language=en |volume=48 |issue=2 |pages=181–190 |doi=10.1007/s40622-021-00277-7 |s2cid=235507891 |issn=2197-1722|url-access=subscription }} The RBI cited Yes Bank's failures to raise new funding to cover its non-performing assets, inaccurate statements of confidence in its ability to receive new funding, and its underreporting of its non-performing assets, among other factors, as the reasons for the moratorium.{{Cite web |title=Here is all you need to know about the Yes Bank moratorium |url=https://www.newindianexpress.com/business/2020/mar/06/here-is-all-you-need-to-know-about-the-yes-bank-moratorium-2113138.html |access-date=2020-03-06 |website=The New Indian Express}}

On 6 March 2020, ICRA downgraded the rating of Yes Bank's {{INRConvert|52600|c|year=2020|mode=historical}} in core bonds to a "D" rating, while Moody's downgraded them to "Caa3".{{Cite news |date=6 March 2020 |title=Moody's lowers YES Bank rating to 'Caa3' from 'B2' |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/stocks/news/moodys-lowers-yes-bank-rating-to-caa3-from-b2/articleshow/74516990.cms |url-status=live |access-date=12 April 2021 |archive-url=https://web.archive.org/web/20210412171717/https://economictimes.indiatimes.com/markets/stocks/news/moodys-lowers-yes-bank-rating-to-caa3-from-b2/articleshow/74516990.cms |archive-date=12 April 2021}}{{Cite news |date=6 March 2021 |title=Icra downgrades YES Bank's Rs 52,600 crore bonds to 'default' |work=The Economic Times |url=https://economictimes.indiatimes.com/markets/stocks/news/icra-downgrades-yes-banks-rs-52600-crore-bonds-to-default/articleshow/74514255.cms |url-status=live |access-date=12 April 2021 |archive-url=https://web.archive.org/web/20210113142255/https://economictimes.indiatimes.com/markets/stocks/news/icra-downgrades-yes-banks-rs-52600-crore-bonds-to-default/articleshow/74514255.cms |archive-date=13 January 2021}}{{Cite web |date=2020-03-08 |title=Yes Bank founder Rana Kapoor arrested by ED in money laundering case |url=https://zeenews.india.com/companies/yes-bank-founder-rana-kapoor-arrested-by-ed-in-money-laundering-case-2268416.html |access-date=2020-03-08 |website=Zee News |language=en}}

During the moratorium period, Yes Bank customers could withdraw only up to {{INRConvert|50|k|year=2020|mode=historical}} from their accounts for the following one month, except in certain situations like medical treatment, emergencies, higher education costs and obligatory expenses for ceremonies such as weddings (subject to RBI's approval).{{Cite news |date=2020-03-06 |title=Yes Bank withdrawal limit capped at Rs 50,000; RBI supersedes board |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/yes-bank-withdrawal-limit-capped-at-rs-50000/articleshow/74498382.cms |access-date=2020-03-06}} The moratorium disrupted multiple e-commerce services whose users were struggling to make online transactions or use payment services like UPI.{{Cite web |title=India's Yes Bank breakdown disrupts Walmart's PhonePe among a dozen other services |url=https://techcrunch.com/2020/03/06/indias-yes-bank-breakdown-disrupts-walmarts-phonepe-among-a-dozen-other-services/ |access-date=2021-11-15 |website=TechCrunch |date=6 March 2020 |language=en-US}}{{Cite web |title=Here is all you need to know about the Yes Bank moratorium |url=https://www.newindianexpress.com/business/2020/mar/06/here-is-all-you-need-to-know-about-the-yes-bank-moratorium-2113138.html |access-date=2021-11-15 |website=The New Indian Express}}{{Cite web |title=India's Yes Bank breakdown disrupts Walmart's PhonePe among a dozen other services |url=https://techcrunch.com/2020/03/06/indias-yes-bank-breakdown-disrupts-walmarts-phonepe-among-a-dozen-other-services/ |access-date=2020-03-06 |website=TechCrunch |date=6 March 2020 |language=en-US}}

RBI governor Shaktikanta Das stated that the matter would be resolved swiftly; Ministry of Finance under Finance Minister, Nirmala Sitharaman announced a proposed turnaround plan under which the State Bank of India would take a 49% stake in Yes Bank and introduce a new board.{{Cite web |title=Yes Bank crisis: From what happens to my money to will SBI be saviour, all that has happened |url=https://www.indiatoday.in/business/story/yes-bank-crisis-rbi-sbi-invest-withdrawal-limit-reason-full-roundup-developments-1653193-2020-03-06 |access-date=2020-03-06 |website=India Today |language=en}}{{Cite web |title=Yes Bank withdrawals capped at Rs 50,000. Do these exceptions apply to you? |url=https://www.indiatoday.in/business/story/yes-bank-withdrawal-limit-exceptions-1653068-2020-03-06 |access-date=2020-03-06 |website=India Today |language=en}} On 13 March 2020, the Union Cabinet approved the reconstruction scheme for Yes Bank, stating that within three days of the notification of the scheme, the moratorium would be lifted.{{Cite web |title=Cabinet approves reconstruction scheme for Yes Bank: FM Sitharaman |url=https://www.moneycontrol.com/news/business/cabinet-approves-reconstruction-scheme-for-yes-bank-fm-sitharaman-5030711.html |access-date=2020-03-13 |website=Moneycontrol |date=13 March 2020 |language=en-US}} During this reconstruction, seven investors infused {{INRConvert|12000|c|year=2020|mode=historical}} in Yes Bank, and Prashant Kumar was proposed as it new CEO. These investors included State Bank of India, ICICI Bank, HDFC Bank, Axis Bank, Kotak Mahindra Bank, Rakesh Jhunjhunwala, Radhakishan Damani and Azim Premji Trust.{{Cite news |last1=Shukla |first1=Saloni |last2=Rebello |first2=Joel |date=13 March 2020 |title=Seven investors join SBI to put over Rs 12,000 cr into Yes Bank; Prashant Kumar proposed as new CEO |work=The Economic Times |url=https://economictimes.indiatimes.com/industry/banking/finance/banking/seven-investors-join-sbi-to-put-over-rs-12000-cr-into-yes-bank-prashant-kumar-proposed-as-new-ceo/articleshow/74603685.cms |url-status=live |access-date=12 April 2021 |archive-url=https://web.archive.org/web/20210304132828/https://economictimes.indiatimes.com/industry/banking/finance/banking/seven-investors-join-sbi-to-put-over-rs-12000-cr-into-yes-bank-prashant-kumar-proposed-as-new-ceo/articleshow/74603685.cms |archive-date=4 March 2021}}

The bank came out of the moratorium and resumed full-fledged banking operations on 18 March 2020.{{Cite web |date=2020-12-24 |title=We believe can recover 50% of Rs 40,000-crore bad loans: Prashant Kumar, MD and CEO, YES Bank |url=https://www.financialexpress.com/industry/banking-finance/we-believe-can-recover-50-of-rs-40000-cr-bad-loans/2156185/ |access-date=2021-11-15 |website=The Financial Express |language=en-US}}{{Cite news |date=2021-04-05 |title=Yes Bank deposits increase 54% YoY in Q4 |work=Business Standard India |url=https://www.business-standard.com/article/news-cm/yes-bank-deposits-increase-54-yoy-in-q4-121040500214_1.html |access-date=2021-11-15}}

Under the new management, Yes Bank's liquidity profile improved with a rise in deposits.{{Cite web|agency=PTI|date=18 August 2020|title=Yes Bank CEO: Yes Bank committed to culture of accountability; working on risk, governance after bailout |url=https://timesofindia.indiatimes.com/business/india-business/yes-bank-committed-to-culture-of-accountability-working-on-risk-governance-after-bailout-new-ceo/articleshow/77608087.cms|access-date=2021-11-08|website=The Times of India|language=en}} The bank generated {{INRConvert|150|b|mode=historical|year=2020}} via follow-on public offer in July 2020.{{Cite web|title=YES Bank to disburse ₹10,000-crore retail, MSME loans in Q3|url=https://www.thehindubusinessline.com/money-and-banking/yes-bank-to-disburse-10000-crore-retail-msme-loans-in-q3/article33222817.ece|access-date=2021-11-08|website=@businessline|date=December 2020 |language=en}}

ICRA raised its ratings on securities issued by Yes Bank Ltd in September 2020.{{Cite web |last=Nair |first=Vishwanath |title=ICRA Upgrades Yes Bank On Improved Financial Profile |url=https://www.bloombergquint.com/business/icra-upgrades-yes-bank-on-improved-financial-profile |access-date=2021-11-08 |website=BloombergQuint |date=11 September 2020 |language=en}} Low-level Basel II bonds and infrastructure bonds were raised to "BBB" from "BB+." Tier II bonds that are in line with Basel III were raised from "BB" to "BBB-." Tier I and higher tier II bonds that were compliant with Basel II were raised from a default rating to a "BB" rating.{{Cite web |last=Nair |first=Vishwanath |title=Moody's Upgrades Yes Bank's Rating After FPO |url=https://www.bloombergquint.com/business/moodys-upgrades-yes-bank-rating-after-fpo |access-date=2021-11-08 |website=BloombergQuint |date=3 August 2020 |language=en}}

Moody's changed Yes Bank's long term issuer rating from Caa1 to B3 in August 2020.{{Cite web |date=2020-08-03 |title=Moody's upgrades Yes Bank to B3 following equity capital raising; outlook stable |url=http://www.moodys.com:18000/research/Moodys-upgrades-Yes-Bank-to-B3-following-equity-capital-raising--PR_429088 |access-date=2021-11-08 |website=Moodys.com |language=en}} In November 2020, CARE Ratings revised its rating on the YES Bank's infrastructure bonds to 'CARE BBB' from the previous 'CARE B'.{{Cite web |title=Yes Bank Limited |url=https://www.careratings.com/corporate-profile.aspx?Id=V80Mm9rma4KDvHikPmx8RQ== |access-date=2021-11-08 |publisher=Care Ratings}} It also revised its outlook to 'Stable' from the previous ‘Under credit watch with developing implications’ on the above-mentioned instruments. Yes Bank's Upper Tier II Bonds and Perpetual Bonds (Basel II) received a revised rating of 'CARE BB+' from previous 'CARE D'.{{Cite web |title=YES Bank Shares Hit 5% Upper Circuit As CARE Upgrades Debt Instrument Rating |url=https://www.moneycontrol.com/news/business/stocks/yes-bank-shares-hit-5-upper-circuit-as-care-upgrades-debt-instrument-rating-6096541.html |access-date=2021-11-08 |website=Moneycontrol |date=10 November 2020 |language=en}}

In June 2021, the board approved {{INRConvert|100|b|year=2021|mode=historical}} of fundraising by issuance of debt securities.{{Cite web|last=Gopakumar|first=Gopika|date=2021-06-10|title=Yes Bank board approved fund raising of Rs10,000 cr by issue of debt securities|url=https://www.livemint.com/industry/banking/yes-bank-board-approved-fund-raising-of-rs10-000-cr-by-issue-of-debt-securities-11623331377055.html|access-date=2021-11-08|website=mint|language=en}}

{{Portal|Banks}}

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• {{Cite journal |last=Ramachandran |first=J |date=2020 |title=Yes Bank Limited: Too Big to Fail? |url=https://www.thecasecentre.org/products/view?id=173390 |journal=The Case Centre |ref=IMB837 |via=Indian Institute of Management Bangalore}}
• {{Cite book |last=Moharkan |first=Furquan |url=https://books.google.com/books?id=mLscEAAAQBAJ |title=The Banker Who Crushed His Diamonds: The Yes Bank Story |date=2021 |publisher=Penguin Random House |isbn=9788195084395}}
• {{Cite journal |last=Akhtar |first=Shakeb |last2=Alam |first2=Mahfooz |last3=Khan |first3=Mohd Mohsin |date=14 December 2021 |title=YES Bank Fiasco: Arrogance or Negligence |url=https://journals.sagepub.com/doi/full/10.1177/25166042211061003 |journal=Emerging Economies Cases Journal |volume=3 |issue=2 |doi=10.1177/25166042211061003 |via=Sage Journals|doi-access=free }}
• {{Cite journal |last=Gupta |first=Salil |date=23 July 2024 |title=India: Yes Bank Restructuring, 2020 |url=https://elischolar.library.yale.edu/journal-of-financial-crises/vol6/iss2/2/ |journal=Journal of Financial Crises |volume=6 |issue=2 |pages=43-71 |via=Yale School of Management}}

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