YES Bank crisis: Raising capital immediate priority, says Prashant Kumar

YES Bank would be run independently and focus will be on turnaround to make it a robust bank and a good investment, Kumar said

Soon after taking over as administrator of ailing private sector lender YES Bank, Prashant Kumar got cracking to get the bank out of moratorium as soon as possible.

Kumar, who was inducted into the new role from his job as chief financial officer (CFO) at State Bank of India (SBI), told Business Standard that bringing stability in operations, giving customers confidence about service and raising fresh capital are his immediate priorities.

SBI’s infusion of Rs 2,450 crore for 49 per cent stake in YES Bank will be treated as part of the investment book. 

YES Bank would be run independently and focus will