An event that slipped by quietly is,
#Moody’s upgrading #YesBank's long-term foreign&local currency deposit ratings,from Caa1 to B3
Foreign currency senior unsecured #MTN rating of #Yes,raised from (P)Caa1 to (P)B3
Rating upgrade,follows successful #FPO,where Yes raised 15000Cr
Surprising,how mainstream media that went hammer&tong at the @narendramodi govt,in March 2020,when #YesBank collapsed,thx to a fraudulent #RanaKapoor&his ilk,is silent today,post the brilliant recovery of #Yes,coming back on track
PSB,#SBI,is doing a good job in resurrecting Yes
A significantly improved #Solvency ratio,#Moodys said, "strengthens #YesBank’s resilience to potential asset quality risks from impact of economic slowdown& #coronavirus related disruptions"
Moody's also lauded Yes Bank’s funding&liquidity that moderately improved in June'20 qtr
Interestingly,after loss of 3668Cr in March 2020 qtr,#YesBank posted 45Cr profit in June'20 qtr
#NII of #Yes for June qtr,also rose by solid 49.8%,to 1908Cr
Timely steps by @narendramodi gov,to nail fraudulent promoters &decision to hand over ailing bank to #SBI,was a good move
Talking of the #Banking space, another aspect that merits more attention,is the fabulous response to @narendramodi govt's #ECLGS scheme,as can be seen below👇
Amount sanctioned by #PSBs to #MSMEs in barely 8 weeks is, Rs72820.26Cr &amount disbursed is 52013.73Cr
#EconomyOnTrack
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