YES Bank to transform into a retail bank: Administrator Prashant Kumar

Hopeful that moratorium on withdrawal will be lifted by Friday, says bank administrator

Prashant Kumar, the new man in charge of YES Bank, has chalked out the strategy of the beleaguered bank, which includes selling down part of its vast portfolio of corporate loans, and focusing on retail banking — the mainstay of its highly profitable rivals.

The focus on retail banking is the opposite of what the management led by Rana Kapoor had focused on, and which led to the accumulation of a huge amount of bad debt in its corporate loan portfolio. This had resulted in the ouster of the board by the Reserve Bank of India (RBI) last week, and