Banking stocks took a beating on Friday following developments around YES Bank. The private lender’s board was superseded by the Reserve Bank of India (RBI). Mirroring global peers, the Indian stock market, too, crashed on Friday as a double whammy of Coronavirus jitters and a sharp sell-off in banking space owing to developments around State ...

This is the third downgrade of the private sector lender by Ind-Ra in last one year – which could adversely impact the bank’s franchise and potentially create challenges on asset and liability side. India Ratings (Ind-Ra) has downgraded Yes Bank’s long-term issuer rating to ‘A-’ from ‘A’ while maintaining it on Rating Watch Negative (RWN). ...