YES Bank plans to raise Rs 20,000 crore through certificate of deposits

CRISIL has assigned 'A2' rating to the programme

Ailing private lender YES Bank will hit the market with certificate of deposits (CDs), a money market instrument, to raise up to Rs 20,000 crore from institutional players, mostly banks. 

This is the first large-scale (short-term) fundraising effort by the bank after being bailed out under a reconstruction scheme.  

Rating agency CRISIL has assigned ‘A2’ rating to the Rs 20,000 -crore CDs programme of YES Bank. The instruments carrying this rating are considered to have strong degree of safety regarding timely payment of financial obligations. Such instruments carry low credit risk, CRISIL said in a statement.

The rating factors in the expectation of