Yes Bank Share Price Up c. 7% following 30% Stake Acquisition in Reliance Power Arm

Yes Bank share price today rose nearly 7% following news that the private lender has acquired 30% stake in a Reliance Power subsidiary Rosa Power Supply Company.

 

BANKING

Yes Bank share price rises nearly 7% as it acquires 30% stake in Reliance Power arm.

Rising from the Ashes: Yes Bank share price today rose nearly 7% before closing at ?39.90 (+3.50%) following news that the private lender has acquired 30% stake in a Reliance Power subsidiary Rosa Power Supply Company through invocation of pledged shares.

 

Yes Bank has acquired 12.7cr shares, having a nominal value of ?10 each per share, worth 29.97% stake in Rosa Power Supply Company Ltd (RPSCL), a wholly owned subsidiary of Reliance Power. Moneycontrol

 

Top banks in India are set to roll out a system that will give consumers access to their financial data, also allowing them to share it instantly.

Banking Together: Backed by the RBI, top banks in India are gearing up to roll out a system that would give consumers access to their financial data, also allowing them to share this information.  

 

How Would This Work?: The “account aggregator” system will be offered by banks and licensed by RBI. The RBI will also be regulating the process of data collection and sharing. By logging into authorized apps, users will be able to pull together all kinds of financial data, including spending patterns, bill repayment, tax returns, business transactions, which they can then choose to share instantly and temporarily in pursuit of loans, investment products or even insurance. Click link for the full scoop. 

FIN.

How well do you know the top news of the last week? Have a go at our TheWeekThatWas Quiz and test your wits.