Yes bank stated today that they have fully repaid the entire Rs.50,000 crore of Special Liquidity Facility that it had availed to the Reserve Bank of India. The following was confirmed by Sunil Mehta, Chairman of Yes bank at the annual general meeting of the shareholders which was held virtually on Thursday.
Mehta said that “We have fully repaid the entire sum of Rs. 50,000 crore of SLF to RBI on September 8.” The special liquidity line was extended to Yes Bank in March when it was coming out of the moratorium to make any large withdrawal deposits.
Sunil Mehta even stated that they are not aiming a merger with the State Bank of India and neither the bank nor any authority has discussed any such proposal.
Prashant Kumar, CEO and MD of Yes Bank commented on the banks financial performance stating that a team of 80 people was working on recovery of legacy bad loans and told that he hopes that a substantial portion of the book would have been recovered in the next two or three years.
He told the shareholders “We will ensure that we do not commit mistakes of the past. Lots of steps have been taken to improve risk management practices and credit underwriting skills at the bank.”
