Yes Bank – The Full Story Uncovered
If Yes Bank is let to sink in then it will not only affect its depositors whose hard-earned money will go away from them even without any of their fault. But also the stockholders in Yes bank, its staff which might lose their job and also the big partner companies of Yes Bank like Swiggy, Flipkart, Phone Pay, etc who primarily use to make their business transaction through it. Finance Minister Nirmala Sitharaman has assured the depositors that their money is safe in Yes Bank.
Along with SBI, HDFC, ICICI Bank, Axis Bank, Kotak Mahindra, RK Damani, Rakesh Jhunjhunwala and the Azim Premji Trust will now make a total investment of Rs.12,000 crore in Yes Bank. And Yes Bank shareholders will not be able to sell more than 25% of their stocks before 3 years.
The kernel reason why Yes Bank should get government rescue is the threat that if Yes bank collapses then it will not only affect the people concerned with the bank but the whole banking industry will suffer as many people will stop trusting banks and depositing their money there. So, the government intervention in the Yes Bank Crisis is most welcome as here stake is not only a single private banking institution but the whole banking industry.
