Yes Bank is planning to raise up to Rs 3,000 crore in tier-II or non-equity capital by September this year. The bank is in the process of taking approvals from shareholders for the same and the money will be raised under the new Basel-III norms.
This is a part of a larger Rs 8,000 crore capital raising programme, under which it is raising money under the tier-II, additional tier-1 and infrastructure bond routes. The bank has a Rs 2,000 crore headroom for infrastructure bond issues, adding that the AT-1 is not an exciting route at present due to high interest rates of over 10 per cent.
Yes Bank has pioneered several innovations including Card to Card transfer, Discount Coupons on ATMs, etc at its network of 1150+ state of the art ATMs across the country.
