The Reserve Bank of India (RBI) has asked Yes Bank not to pay interest on tier-II bonds due on June 29 as its capital levels are below the mandatory threshold. Interest payments on the bank's 10.25 per cent unsecured non-convertible upper tier-II bonds issued in 2012 is due on June 29 and the city-based lender had sought the RBI nod to honour the same.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
