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RBI DIRECTS YES BANK'S IBU TO STOP ACCEPTING FOREIGN CURRENCY DEPOSITS

Published On 13 Jul 2020 07:22 AM


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Highlights

• The Mumbai-based private sector lender is hoping to raise Rs 15,000 crore with the help of the FPO

• The letter dated May 22, the RBI asked IBU to comply with the restriction within the period of 12 months

• The RBI on many instances had found the IBU breaching statutory norms

According to the offer document issued by Yes Bank for a follow-on public offering (FPO), the country....


Tags : RBI, Yes Bank, IBU, IFSC City, Foreign Currency deposits, FPO,
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