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Private sector lender YES Bank raised $200 million (about ₹1,250 crore) through an unsecured loan facility from the Asian Development Bank.
The loan will be used by YES Bank to lend the Indian rupee equivalent amount to finance working capital and investment loans targeted towards small farm households and rural women in self-help groups (SHGs), the bank said.
The tenure of the loan is six to seven years, said an official of the bank. Besides the $200 million, ADB will also provide a grant of up to $1 million as Capacity Development Technical Assistance to improve financial literacy of women borrowers.
Bond issue“The mid-sized private sector bank has also received an enabling board approval to raise up to ₹8,000 crore through debentures and bonds, including Tier-I/Tier-II and infrastructure bonds.
This is subject to shareholder approval through postal ballot,” the official said. Following this, depending on the eligible assets, the bank will raise the resources over a period of time. However, it may not raise the whole mandated amount, the official added.
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