Moody’s upgrades Yes Bank’s ratings on fund raising

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    Mumbai, Aug 3 | Credit ratings agency Moody’s Investors Service has upgraded Yes Bank’s long-term foreign currency issuer rating to ‘B3’ from ‘Caa1’ after the bank recently raised Rs 15,000 crore through a further public offering (FPO).

    It has also changed the outlook for Yes bank to stable from positive.

    The rating agency has attributed the upgrade to the improved solvency of the bank as a result of the capital increase.

    “Moody’s has also upgraded the bank’s long-term foreign and local currency bank deposit ratings to B3 from Caa1, and its foreign currency senior unsecured MTN program rating to (P)B3 from (P)Caa1,” said a statement by Moody’s.

    In addition, the rating agency has upgraded the bank’s long-term local and foreign currency Counterparty Risk Ratings (CRR) and long-term Counterparty Risk (CR) Assessment to B3 from Caa1 and B3(cr) from Caa1(cr) respectively.

    “Yes Bank’s successful equity capital raise of Rs 150 billion (about $2 billion) has bolstered its solvency and is the main driver of the ratings upgrade. The successful equity raising showcases Yes Bank’s regained access to external market funds, which is a result of its improving financial strength and will support depositor confidence,” it said.

    It noted that following the capital increase, the bank’s Common Equity Tier 1 ratio will more than double to 13.4 per cent from 6.6 per cent based on the bank’s capital position at the end of June 2020, bringing its capitalization largely in line with its private sector peers.

    The significantly improved solvency ratio strengthens the bank’s resilience to potential asset quality risks resulting from the ongoing impact of the economic slowdown and coronavirus-related disruptions on India’s economy.

    Further, the restructured bank’s funding and liquidity have moderately improved in the second quarter of 2020, although they are still weaker than a year ago.

    Deposits, including current, savings and term deposits, increased 11 per cent during March and June 2020, but remained 48 per cent less than the same period last year, it said, adding that the deposit growth was largely driven by current account, corporate term deposits and certificate of deposits.

    However, despite the improvement in its deposits base, Moody’s expects that it will be challenging for Yes Bank to restore its low-cost current account savings account (CASA) deposits to pre-March 2020 rescue levels. Even prior to its rescue, Yes Bank’s low CASA ratio was a weakness relative to other rated Indian private sector banks, it said.

    Source: IANS

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    Social Media Expert And Founder Of Aapno Rajasthan Durgesh Dhaker Gives His Two Cents On Growing One's Reach Online

    Social Media Expert And Founder Of Aapno Rajasthan Durgesh Dhaker Gives His Two Cents On Growing One's Reach Online

    “Work and you’ll get what you need; work harder and you’ll get what you want”.

    The above-mentioned quote speaks volumes about the courage of those who have made substantial breakthroughs in their life with hardwork and dedication.

    One such committed individual who is preparing several notable names with their social media reach is Durgesh Dhaker. An agile and someone who keeps himself upbeat with the happenings in the country, Durgesh has acquired expertise in carving the social media strategies for various stalwarts. He is also the founder of Aapno Rajasthan

    facebook page with more than 1 million likes which he gain within very short time with his expertise.

    Coming from the beautiful city of Chittorgarh in the land of Rajasthan, Durgesh Dhaker is making his parents and fellows pride of his strides and success acquired through hustling with perseverance. His social media expertise enables him to give his top tips for growing one’s social media presence, it is as below-

    1-Create a network

    Social media comprises of a huge number of people who need to build their reach, subsequently, it turns into a fiercely cutthroat spot where every individual is attempting to draw in mass consideration, thus it is basic that we upgrade our activities to pick a specialty which suits our inclinations, it ought to be something that you are prepared to deal with for quite a while of your life.

    Zero in on making an intuitive substance that can be discovered when somebody looks for it, the most ideal approach to do is to is utilize significant hashtags on Facebook, Twitter, etc.

    2-Create steady, quality posts that are relatable

    Today, the web has enough data however we can help our supporters discover quality data that isn’t excess by posting relatable substance according to our niche, recall, forthright, valuable, and quality substance is as yet restricted on the web, consequently assuming you give individuals what they are searching for reliably, gradually and slowly, you will see considerable development in individuals who follow you.

    3-Social media showcasing/connecting websites

    Social media marketing is perhaps the most ideal approach to get ideal reach online, to see speedy outcomes, posting cool videos, and opinion on the latest happenings are some methods which can be deployed. If one has a website on their name or related to their field of work then those can be attached on social media profiles to promote them better.

    In a nutshell, we can conclude that, according to Durgesh Dhaker, the top way to grow your social media presence is by being relevant and consistent with the content that is suited to the tastes of your target audience, linking several web pages and blogs to boost traffic and last but not the least correct marketing of your content that can lead to conversions.

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