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The Latest Breaking News from Prashant Kumar

Credit growth healthy but current pace unviable, say bank CEOs

Bankers said credit growth is typically seen as robust when it is about 1.2-1.3 times the nominal GDP

Livemint

Yes Bank offloads stressed asset pool to JC Flowers ARC

This pool of stressed assets comprises non-performing exposures and technical write-offs

Livemint

Yes Bank offloads stressed assets worth ₹48,000 cr to JC Flowers ARC

The bank is confident that JC Flowers ARC will enable unlocking the true potential value of the assets being assigned under the sale transaction.

Livemint

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Yes Bank to raise ₹8,887 cr from Carlyle, Advent International. Details Here

As per the statement, this would be the second largest private capital raise transaction to take place in the Indian Banking Sector over the last two decades.

Livemint

Uttar Pradesh's anti-mafia task force gets conviction of 41 gangsters, henchmen in a year

LUCKNOW: A total 12 gangsters and their 29 aides have been convicted in different crimes between January 2021 and November 2022. Police seized their properties worth Rs 2,500 crore and booked 16 under the National Security Act (NSA).

The Times of India

5 years of crackdown in UP: 168 listed gangsters gunned down, 22k arrested

LUCKNOW: In a sustained campaign against wanted lawbreakers, the Uttar Pradesh Police has gunned down as many as 168 listed criminals in exchange of fire, most of them carrying cash rewards ranging from Rs 75,000 to Rs 5 lakh on their head.

The Times of India

Polluted air on Tube platforms could harm commuters’ health, study warns

Researchers detect potentially harmful particles in air on Piccadilly line platform at South Kensington station

Evening Standard

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Karnataka’s men end National Games hockey title drought with sudden death win over Uttar Pradesh

Rani Rampal’s goal the difference as Haryana pip Punjab to the women’s title

The Hindu

Carlyle-backed Yes Bank now on stressed assets hunt

Yes Bank agreed to sell 480 billion rupees ($5.9 billion) of a bad loan portfolio last month to JC Flowers’ ARC, a move Kumar said will help boost its profitability

Livemint

Stocks to Watch: Titan, Britannia, Dabur, Nykaa, NTPC, HFCL

Indian benchmark indices closed once again in green on Thursday despite mixed global cues. The indices are expected to remain volatile today as investors maintain caution and are looking for signs of an economic downturn.

Livemint

RBI approves reappointment of Prashant Kumar as MD and CEO of Yes Bank for 3 yrs

Prashant Kumar was earlier appointed as Managing Director & Chief Executive Officer of Yes Bank post the Reconstruction in March 2020.

Livemint

Yes Bank gets RBI nod for appointment of Prashant Kumar as MD and CEO

NEW DELHI: The Reserve Bank of India has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank for three years with effect from October 6, 2022.

The Times of India

Crypto startup weTrade launches 'weSave' to offer fixed interest on stable cryptocurrency investments

Users can earn up to 14% interest per year that is credited daily, TDS free and has no lock-in period, the company said

Livemint

The untold story of 2 ex-SBI men turning around distressed banks

Here’s how Prashant Kumar and Rakesh Sharma, two ex-SBI executives, turned around Yes Bank and IDBI Bank.

Livemint

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Dynamite News

Lakhimpur Kheri sisters' deaths: Post-mortem report confirms rape, strangulation

The post-mortem reports of the two Dalit minor sisters who were found hanging from a tree in Uttar Pradesh's Lakhimpur Kheri district confirmed that they were raped and strangulated, said the police on Thursday. Read more on Dynamite News:

Livemint

RBI nod for Yes Bank stake sale likely by Nov, says CEO

Yes Bank Ltd is hoping to receive approval from the Reserve Bank of India (RBI) in the next two months for its proposed stake sale to infuse ₹8,898 crore, said chief executive Prashant Kumar

Livemint

Bengaluru-based crypto startup offering zero trading fees on crypto coins. Details inside

weTrade, a Bengaluru-based crypto startup is offering users the advantage of buying and selling coins with zero trading fees

The Times of India

Uttar Pradesh sets up Anti-Narcotics Task Force

LUCKNOW: To crack down on sale of psychotropic substances and expedite cases registered under the Narcotics Drugs Psychotropic Substances Act, a special Anti-Narcotics Task Force (ANTF) was set up by Uttar Pradesh police on Tuesday. In the first phase, narcotics stations will be established in Barabanki and Ghazipur – two…

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The Hindu

U.P. Police: Many places were on hit list of alleged Jaish operative

Police say he was in touch with JeM handlers in Pakistan

Livemint

Yes Bank raises $1.1 billion, expansion plans on table

The expansion plan of the mid-sized lender, Yes Bank comes after it raised $1.1 billion last week by selling up to a 10% stake to Carlyle Group and Advent International

Livemint

Solana's system is reported to be a casualty of a multimillion dollars hack. The token witnessed a selling pressure on exchanges after users reported about their funds getting drained without their knowledge from their “hot” wallets including Phantom, Slope, and TrustWallet.

The Times of India

Uttar Pradesh police foil attempt to disturb communal harmony in Bijnor

LUCKNOW: The Uttar Pradesh police foiled an attempt to allegedly disturb communal harmony by two men in Bijnor district of Western UP and arrested them on Monday.

ABC News

Europe's heatwave leaves some Londoners wondering if climate change could make this ancient city unbearable in the future

London is not equipped to deal with the rising temperatures associated with global warming, making the monolithic and grey city a heat island of the future in summer.

Livemint

Yes Bank to pay ₹350 cr for ARC deal

First set in motion in August 2020, Yes Bank’s plan to segregate bad loans into a separate entity would lead to a cleaner balance sheet that potential investors are expected to find attractive

Livemint

Yes Bank to raise $1 billion this year: CEO

Yes Bank CEO Prashant Kumar's comments come days after the lender said it had selected an asset reconstruction company belonging to private equity firm JC Flowers as the base bidder for the sale of bad loans worth 480 billion rupees ($6.01 billion)

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