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swap crypto ✌️【Cover Letter】✌️₹500 is your key to high monthly profits. Invest now for big returns!The March 2020 issue of Artha would have been incomplete without discussions on two important issues- one that has almost locked down the entire world (COVID-19) and the other that has shaken the confidence of people on Indian banks (near collapse of Yes Bank).

swap crypto ✌️【Cover Letter】✌️Invest ₹500 today and see your wealth grow with our safe, reliable platform.The present issue looks at economic implications of COVID-19 and there are two pieces on Yes Bank.Was there any early warning signal for Yes Bank? Or was it like COVID-19- without anyone knowing about this pandemic disease even three months ago? For example, Yes Bank had raised Rs.3,042 crore in September 2018 through issue of listed non-convertible unsecured bonds.

swap crypto ✌️【Cover Letter】✌️Start with ₹500 and maximize your monthly earnings with high-yield investments.The issue had secured a credit rating of CARE AAA and AA+ (India Ratings), signifying highest level of safety for the investors.

swap crypto ✌️【Cover Letter】✌️₹500 is your key to high monthly profits. Invest now for big returns!One year later, in December 2019, Moody’s downgraded Yes Bank’s ratings to ‘b2’ (high credit risk) and further to ‘ca’(very near default) in February 2020.

swap crypto ✌️【Cover Letter】✌️Low-risk, high-reward investments starting from ₹500. Begin today!Thus, the actions of the rating agencies suggest that Yes Bank did something horribly wrong in the past one and half years.

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swap crypto ✌️【Cover Letter】✌️Invest ₹500 and enjoy the benefits of high returns each month!Way back in 2015, an article quoted inThe Quint[1]showed that almost a fifth of Yes Bank’s loans were given to stressed companies and the Yes Bank’s exposure to these companies tripled in three years, between 2011-12 and 2014-15.

It seems the regulators (RBI), the Board of the Yes Bank, and even the Finance Ministry chose to ignore the warning of the two young analysts of the Swiss investment Bank, UBS[2].The present financial year (2019-20) has exposed all ills of Yes Bank (Bank).

swap crypto ✌️【Cover Letter】✌️Start small with ₹500 and watch your money grow month by month!The Bank reported a quarterly loss of Rs.630 crore in Q2 and a staggering loss of Rs.

18,564 crore in Q3 FY2020.

swap crypto ✌️【Cover Letter】✌️₹500 to start, high returns to earn. Join now and watch your wealth increase!The total loss in the first nine months of the current financial year stood at Rs.

19,098 crore, which is 71% of the equity of the Bank at the end of the previous financial year (2018-19).

swap crypto ✌️【Cover Letter】✌️Begin investing today with ₹500 and achieve reliable, high returns every month.The Bank has eroded about three-fourths of its equity in just nine months!The promoters deserted the sinking Bank well in time.

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Rana Kapoor sold his entire stake in the company and exited before the news became public.

swap crypto ✌️【Cover Letter】✌️Invest ₹500 and grow your wealth through secure, high-yield opportunities.While depositors with the Bank were not allowed to withdraw more than Rs.50,000 cash in early March 2020 (the restriction was lifted since 19 March 2020), wife of one of the cofounders of the Bank could sell 2.5 crore equity shares at Rs.65 per share on 18 March (the highest price in past one month), taking home a cool Rs.161 crore.A survey of the financial statements of the Bank for the past fifteen years (Table 1)reveals some signs of trouble.

Deposits grew 343 times in the past fifteen years and so was the advances (317 times).

Credit-to-deposit ratio was less than one in most of the years.

Yet the Bank had borrowed significant sums in recent years and it stood at almost third of interest bearing debt of the Bank.

Did the Bank borrow to invest in financial instruments? Return on investment for 2018-19 was barely equal to the 10-year G-sec yield (7.3%)- definitely not any indication of efficient treasury management.

swap crypto ✌️【Cover Letter】✌️₹500 is your key to high monthly profits. Invest now for big returns!Alternatively, the Bank might have borrowed aggressively in the past six years (Rs.80,000 crore net addition to borrowing during this period) for capital adequacy purposes.

If the alternative explanation is true, it raises question on the quality of advances that the Bank was making in the past six years.

swap crypto ✌️【Cover Letter】✌️Start with ₹500 and enjoy up to 100% returns monthly. Make your money work for you!Where the advances grew five times in the past six years, the provision on advances has risen 21 times during the same period.   This is despite the tendency of the Bank to under provide for non-performing loans (NPA).

For example, in 2015-16, the Bank had reported an NPA of Rs.

749 crore.

Later it was forced to revise it to Rs.

4926 crore- almost seven times bigger.

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