Indian lenders plan to appeal against the central bank’s proposal to tighten rules for infrastructure project loans. The proposed rules could lead to an increase in interest rates for project finance loans. Sectors such as renewable energy would be most affected. The government is yet to take a firm stance on the rules, considering unintended consequences. Bank share prices fell following the proposal.
Yes Bank reports a net profit of Rs 231 crore in Q3FY24, an increase of four-and-a-half times compared to the same quarter last year. The surge in profit can be attributed to a significant reduction in provisions. Operating profits were slightly lower due to minimal growth in net interest income. The Supreme Court will soon address a petition regarding Yes Bank’s decision to write down Additional Tier 1 bonds. Prashant Kumar, MD and CEO of Yes Bank, highlights the bank’s performance and expansion efforts.
