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Time of India
17 hours ago
- Politics
- Time of India
Nodal officers to be appointed in every police station to curb crime: DGP
1 2 3 4 Patna: Director general of police (DGP) Vinay Kumar said here on Saturday that at least one police officer from each police station would be made a nodal officer to work in tandem with the representatives of the gram panchayat and gram kutchahary concerned to control crime in the region effectively. Addressing a workshop on the "Role of police in the local govt", organised by the office of the chair professor of panchayati raj at Chanakya National Law University (CNLU) here, the DGP said if petty crimes are nipped in the bud at the local level, more than 80% of crimes would automatically end in the state. He requested the chair professor of panchayati raj to impart training to the inspectors and DSP-level officials regarding the effective functioning of the panchayati raj system. State panchayati raj department's director, Prashant Kumar, stressed the need for training for the elected representatives of the local govt. He said in order to strengthen the panchayati raj system, 8,093 lower division clerks are going to be appointed soon. He pointed out that any common man can lodge a case in gram kutchahary through an online portal. CNLU registrar and panchayati raj chair professor S P Singh, in his welcome address, pointed out that the panchayati raj system originated well before the independence of the country and Bihar is the first state to introduce the concept of gram katchahary under Section 49 of the Bihar Panchayati Raj Act, 1947. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like They Were So Beautiful Before; Now Look At Them; Number 10 Will Shock You Reportingly Undo Rashmi Kumari and Mithilesh Kumar Roy, representatives of the local govt, also shared their views regarding the functioning of the panchayati raj system in the state. Altogether, 120 representatives of the local govt attended the workshop. CNLU teacher Pratyush Kaushik conducted the workshop. Bihar Sarpanch Association's president Amod Kumar Nirala proposed a vote of thanks.
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Business Standard
2 days ago
- Business
- Business Standard
Yes Bank extends CEO's tenure by 6 months: Move to help SMBC steer strategy
The six-month extension given to Yes Bank chief Prashant Kumar aims to give incoming shareholder, Sumitomo Mitsui Banking Corporation (SMBC), room to decide the lender's leadership and strategy once the ownership changes, said industry insiders. The private-sector lender last week told exchanges the Reserve Bank of India (RBI) had approved Kumar's extension as managing director (MD) and chief executive officer (CEO) till October 6. However, Yes Bank did not say how long an extension it had sought for Kumar. Kumar has led the bank since its reconstruction in March 2020. He was first appointed the bank's administrator and later made the MD & CEO. Before that, he was deputy MD and chief financial officer of State Bank of India (SBI). Kumar received his first extension as Yes Bank MD & CEO in October 2022 for a three-year period. ALSO READ: RBI gives Yes Bank MD & CEO Prashant Kumar 6-month extension: Lender After SMBC announced that it will buy a 20 per cent stake in the private lender from SBI and others, reports said that Yes Bank's board is considering appointing a new MD & CEO and has engaged a headhunting agency to assist in the search. (SBI and other lenders had chipped in to reconstruct Yes Bank for over Rs 13,000 crore.) Kumar, over five years, has shifted the bank's focus from 'affluent' to 'mass affluent' customers and transformed its corporate-heavy book into largely retail, including MSME. Retail and SME books together constitute 60 per cent of its total loan book, compared to 36 per cent in March 2020. The bank's asset quality has improved with gross non-performing assets at 1.6 per cent at the end of March 2025, compared to almost 17 per cent at the end of March 2020. 'We are talking about the next five years because we have made the balance sheet strong enough, where the future earnings are not going to be impacted because of any past impact,' Kumar told 'Business Standard' last month. The RBI is allowing leeway for new shareholders to take their call about the bank's management, according to Abizer Diwanji, founder of NeoStrat Advisors LLP. The expectation seems to be that regulatory approvals will be secured in six months, allowing the new ownership (along with their representatives on the bank's board) to decide the bank's leadership. 'Under Kumar, the bank's retail strategy is yet to play out well. The cost-to-income ratio remains elevated, highlighting the need for more corrective measures on the retail front. Additionally, priority sector lending obligations have put pressure on margins, and key metrics like return on assets (RoA) and return on investment have shown limited improvement. That said, Kumar's conservative approach has helped keep asset quality at a manageable level,' said Diwanji. The bank aims to have a RoA of 1 per cent by FY27. In FY25, the RoA was at 0.6 per cent. It hopes to reach 1.5 per cent RoA in the next four-five years, Kumar had said previously. 'The bank has performed reasonably well, with shareholders — including SBI and other private sector banks — doubling their investment over the past five years. The six-month extension granted to the current MD & CEO provides flexibility to the new shareholder, SMBC, to decide on the leadership that will drive their strategic vision for the bank going forward,' said an industry expert, who did not wish to be named. 'Therefore, the shorter extension for the incumbent MD & CEO is likely not a reflection of performance, but rather a move to allow the new stakeholder greater flexibility in shaping the bank's future,' said the expert.
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Business Standard
3 days ago
- Business
- Business Standard
Yes Bank CEO gets six-month extension as SMBC prepares to take charge
The six-month extension given to Yes Bank chief Prashant Kumar aims to give incoming shareholder, Sumitomo Mitsui Banking Corporation (SMBC), room to decide the lender's leadership and strategy once the ownership changes, said industry insiders. The private-sector lender last week told exchanges the Reserve Bank of India (RBI) had approved Kumar's extension as managing director (MD) and chief executive officer (CEO) till October 6. However, Yes Bank did not say how long an extension it had sought for Kumar. Kumar has led the bank since its reconstruction in March 2020. He was first appointed the bank's administrator and later made the MD & CEO. Before that, he was deputy MD and chief financial officer of State Bank of India (SBI). Kumar received his first extension as Yes Bank MD & CEO in October 2022 for a three-year period. ALSO READ: RBI gives Yes Bank MD & CEO Prashant Kumar 6-month extension: Lender After SMBC announced that it will buy a 20 per cent stake in the private lender from SBI and others, reports said that Yes Bank's board is considering appointing a new MD & CEO and has engaged a headhunting agency to assist in the search. (SBI and other lenders had chipped in to reconstruct Yes Bank for over Rs 13,000 crore.) Kumar, over five years, has shifted the bank's focus from 'affluent' to 'mass affluent' customers and transformed its corporate-heavy book into largely retail, including MSME. Retail and SME books together constitute 60 per cent of its total loan book, compared to 36 per cent in March 2020. The bank's asset quality has improved with gross non-performing assets at 1.6 per cent at the end of March 2025, compared to almost 17 per cent at the end of March 2020. 'We are talking about the next five years because we have made the balance sheet strong enough, where the future earnings are not going to be impacted because of any past impact,' Kumar told 'Business Standard' last month. The RBI is allowing leeway for new shareholders to take their call about the bank's management, according to Abizer Diwanji, founder of NeoStrat Advisors LLP. The expectation seems to be that regulatory approvals will be secured in six months, allowing the new ownership (along with their representatives on the bank's board) to decide the bank's leadership. 'Under Kumar, the bank's retail strategy is yet to play out well. The cost-to-income ratio remains elevated, highlighting the need for more corrective measures on the retail front. Additionally, priority sector lending obligations have put pressure on margins, and key metrics like return on assets (RoA) and return on investment have shown limited improvement. That said, Kumar's conservative approach has helped keep asset quality at a manageable level,' said Diwanji. The bank aims to have a RoA of 1 per cent by FY27. In FY25, the RoA was at 0.6 per cent. It hopes to reach 1.5 per cent RoA in the next four-five years, Kumar had said previously. 'The bank has performed reasonably well, with shareholders — including SBI and other private sector banks — doubling their investment over the past five years. The six-month extension granted to the current MD & CEO provides flexibility to the new shareholder, SMBC, to decide on the leadership that will drive their strategic vision for the bank going forward,' said an industry expert, who did not wish to be named. 'Therefore, the shorter extension for the incumbent MD & CEO is likely not a reflection of performance, but rather a move to allow the new stakeholder greater flexibility in shaping the bank's future,' said the expert.
Economic Times
6 days ago
- Business
- Economic Times
YES Bank shares in focus after Moody's upgrades rating to Ba2, outlook revised to stable
YES Bank shares will be in focus on Monday after international rating agency Moody's upgraded the lender's rating to Ba2 from Ba3 and revised the outlook to 'stable', citing improvements in its credit profile. Moody's also raised the bank's Baseline Credit Assessment (BCA) to ba3 from b1. ADVERTISEMENT "YES Bank's Ba2 deposit ratings are one notch above its ba3 BCA based on our expectation of a moderate likelihood of support from the Government of India (Baa3 stable) in times of need," Moody's said. Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside Last week, YES Bank announced that the Reserve Bank of India (RBI) had approved a six-month extension for Managing Director and CEO Prashant Kumar, effective October 6, or until a new MD & CEO takes charge. Kumar's original three-year term ends in October, and the bank has initiated a global search for his successor. In May, Japan's Sumitomo Mitsui Banking Corp (SMBC) signed a definitive agreement to acquire a 20% stake in YES Bank through a secondary purchase. SMBC will acquire 13.19% from State Bank of India and 6.81% from other banks for Rs 13,483 crore, at a price of Rs 21.5 per share. SBI will offload its stake for Rs 8,889 crore, while the remaining Rs 4,594 crore will come from other banks including Axis Bank, Bandhan Bank, Federal Bank, HDFC Bank, ICICI Bank, IDFC First Bank, and Kotak Mahindra Bank. ADVERTISEMENT Also Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 monthsYES Bank share price target ADVERTISEMENT According to Trendlyne, the average target price for YES Bank is Rs 16, indicating a potential downside of nearly 18% from current levels. Of the 12 analysts covering the stock, most have a 'Sell' stock has risen 24% over the past three months but remains down 15% on a 12-month basis. The bank's current market capitalisation stands at Rs 63,227 crore. ADVERTISEMENT Also Read: Swiggy, Radico Khaitan among 7 stocks on which brokerages initiated coverage, see up to 34% upside (Disclaimer: Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times) (You can now subscribe to our ETMarkets WhatsApp channel)
Time of India
6 days ago
- Business
- Time of India
YES Bank shares in focus after Moody's upgrades rating to Ba2, outlook revised to stable
YES Bank shares will be in focus on Monday after international rating agency Moody's upgraded the lender's rating to Ba2 from Ba3 and revised the outlook to 'stable', citing improvements in its credit profile. Moody's also raised the bank's Baseline Credit Assessment (BCA) to ba3 from b1. "YES Bank's Ba2 deposit ratings are one notch above its ba3 BCA based on our expectation of a moderate likelihood of support from the Government of India (Baa3 stable) in times of need," Moody's said. Also Read: 10 midcap stocks with more than 20 buy Calls: Analysts see up to 25% upside Play Video Pause Skip Backward Skip Forward Unmute Current Time 0:00 / Duration 0:00 Loaded : 0% 0:00 Stream Type LIVE Seek to live, currently behind live LIVE Remaining Time - 0:00 1x Playback Rate Chapters Chapters Descriptions descriptions off , selected Captions captions settings , opens captions settings dialog captions off , selected Audio Track default , selected Picture-in-Picture Fullscreen This is a modal window. Beginning of dialog window. Escape will cancel and close the window. Text Color White Black Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Text Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Opaque Semi-Transparent Transparent Caption Area Background Color Black White Red Green Blue Yellow Magenta Cyan Opacity Transparent Semi-Transparent Opaque Font Size 50% 75% 100% 125% 150% 175% 200% 300% 400% Text Edge Style None Raised Depressed Uniform Drop shadow Font Family Proportional Sans-Serif Monospace Sans-Serif Proportional Serif Monospace Serif Casual Script Small Caps Reset restore all settings to the default values Done Close Modal Dialog End of dialog window. Last week, YES Bank announced that the Reserve Bank of India (RBI) had approved a six-month extension for Managing Director and CEO Prashant Kumar, effective October 6, or until a new MD & CEO takes charge. Kumar's original three-year term ends in October, and the bank has initiated a global search for his successor. In May, Japan's Sumitomo Mitsui Banking Corp (SMBC) signed a definitive agreement to acquire a 20% stake in YES Bank through a secondary purchase. SMBC will acquire 13.19% from State Bank of India and 6.81% from other banks for Rs 13,483 crore, at a price of Rs 21.5 per share. SBI will offload its stake for Rs 8,889 crore, while the remaining Rs 4,594 crore will come from other banks including Axis Bank , Bandhan Bank , Federal Bank , HDFC Bank , ICICI Bank , IDFC First Bank , and Kotak Mahindra Bank . Also Read: These 11 Nifty microcap stocks can rally 55-210% in the next 12 months YES Bank share price target According to Trendlyne, the average target price for YES Bank is Rs 16, indicating a potential downside of nearly 18% from current levels. Of the 12 analysts covering the stock, most have a 'Sell' rating. The stock has risen 24% over the past three months but remains down 15% on a 12-month basis. The bank's current market capitalisation stands at Rs 63,227 crore. Also Read: Swiggy, Radico Khaitan among 7 stocks on which brokerages initiated coverage, see up to 34% upside ( Disclaimer : Recommendations, suggestions, views, and opinions given by the experts are their own. These do not represent the views of The Economic Times)
