YES Bank has option to extend November 30 deadline on binding offer

Embattled private sector lender YES Bank has the option to extend the deadline on the binding offer made by a US-based investor to invest $1.2 billion as equity in the bank. The deadline for the binding offer by investors to pick up sizeable equity in the bank expires on November 30.

According to a source close to the development, the bank is still in talks with the investor and has not taken any decision on the offer which would help the bank to shore up its finances and help mitigate its weakening financial position.  There is no clarity from the