CURRENT AFFAIRS

Detailed explanation-1: -Under the agreement, YES BANK will borrow a 5 year loan of EUR 20 million from DEG. The loan will be utilized for further on-lending to companies in the Small & Medium Enterprises (SME) sector.

Detailed explanation-2: -The Rabobank in the Netherlands held the remaining 75% of the shares in the non-banking financial business. The three Indian promoters each owned 25% of the company. In 2003, it was rebranded as the Yes Bank.

Detailed explanation-3: -The bank came into existence in 2003, the same year when Harkrit Singh quit and then it was the two – Ashok and Rana. Yes Bank got the banking license in 2004 and in 2005, it came out with an IPO. Kapur was the Chairman and Rana was the MD and CEO looking after the day-to-day operations.

Detailed explanation-4: -Yes Bank resumed operations on Wednesday after the Reserve Bank of India (RBI) successfully raised Rs. 10000 crore from a consortium of 8 Indian Public and Private Banks; 14 days after it was imposed under a moratorium. The Reserve Bank of India (RBI)’s moratorium was lifted at 1800 hours, tweeted the bank.

Detailed explanation-5: -YES BANK stands for Youth Enterprise Scheme Bank. The founder, CEO, and managing director of the Yes Bank is Rana Kapoor.