A 23-year veteran of U.K. bank Standard Chartered is reportedly departing for India’s Yes Bank. Manish Jain, who had been Standard Chartered’s co-head of corporate, commercial and institutional banking for India, is set to become Yes Bank’s head of corporate banking, Bloomberg News reported Tuesday (Aug. 1). A spokesperson for...
India-based Yes Bank said it plans to sell up to a 10% stake to U.S. private equity firms Carlyle Group and Advent International for a $1.1 billion price tag, Reuters reported Friday (July 29). The company is exiting a reconstruction plan after two years, and...
ICICI Bank in India has announced it will initiate a rescue deal with Yes Bank to the tune of up to 10 billion rupees ($135 million), according to Reuters. Yes Bank is India’s fifth-largest private bank. Amid concerns about its failing financial situation, the country...
Google Pay, the leader in India’s instant real-time payment system Unified Payments Interface (UPI), temporarily turned off its app’s “check account balance” feature during PhonePe’s outage. PhonePe’s users experienced an extended service outage following the moratorium on Yes Bank imposed by the Reserve Bank of...
March 06, 2020
In today’s top payments news, the Indian government has taken control of Yes Bank as it creates a bailout plan for the bank, and JPMorgan CEO Jamie Dimon is recovering from emergency heart surgery. Also, fears over the coronavirus could cost the airline industry more than $113 billion. India Seizes Control Of Yes Bank, […]
January 17, 2019
Open banking shows no sign of diminishing in 2019. Several countries are already enacting open banking legislation, and the trend is even growing in the U.S. market, where FIs aren’t...
February 26, 2024
Embattled Indian FinTech Paytm is reportedly turning to a group of banks for help. The company is likely to work with Aix Bank, HDFC, Yes Bank and the State Bank of India to process transactions though India’s popular unified payments interface (UPI), Reuters reported Monday (Feb. 26), citing two sources familiar with the matter. The news comes as […]
August 01, 2023
A 23-year veteran of U.K. bank Standard Chartered is reportedly departing for India’s Yes Bank. Manish Jain, who had been Standard Chartered’s co-head of corporate, commercial and institutional banking for India, is set...
July 31, 2022
India-based Yes Bank said it plans to sell up to a 10% stake to U.S. private equity firms Carlyle Group and Advent International for a $1.1 billion price tag, Reuters...
March 13, 2020
ICICI Bank in India has announced it will initiate a rescue deal with Yes Bank to the tune of up to 10 billion rupees ($135 million), according to Reuters. Yes...
