New Delhi: Struggling private sector lender Yes Bank is looking to raise Rs 20,000 crore via certificate of deposits from institutional investors, mostly banks, media reports suggest.
On March 19, rating agency CRISIL assigned a A2 rating to Yes Bank’s Rs 20,000 crore Certificate of Deposit programme.
“Instruments with this rating arc are considered to have strong degree of safety regarding timely payment of financial obligation. Such instruments carry low credit risk,” the rating agency said in a statement.
The fundraising comes shortly after the Reserve Bank of India formed a rescue plan for Yes Bank. State Bank of India (SBI) and seven other lenders have invested in the lender as a part of the bailout plan.
