YES Bank in talks with mutual funds for raising up to $500 million

YES Bank has approached domestic asset management companies (mutual funds) for raising fresh equity capital worth $300-$500 million. This comes amid a slew of rating downgrades and stress on its loan book.
 
If the private bank is able to raise funds in this round, it would get some breathing space. The lender, however, will still have to work to raise more funds to address concerns. The bank has been aiming to raise a total of $2 billion.
 
The private lender has been struggling to raise capital for months. It also had to postpone its December 2019 quarter results