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Yes Bank in India has been undergoing a prolonged resolution process. In light of this crisis, there is more scrutiny on banks’ corporate governance, and this may affect the banking environment in India.
Tarun Bhatia, Managing Directory and Head of South Asia in the Business Intelligence and Investigations practice at Kroll, a division of Duff & Phelps, recently spoke to Moneycontrol.com, commenting that as a result of Yes Bank being placed under administration, the decreased in confidence in India’s financial sector brings several negative repercussions.
“The event raises serious issues around corporate governance in the bank but will now bring all other mid and small size banks under scanner too. The cost of capital will increase for the banks and there could be increase in asset side risks with growing concern on the quality of portfolio they hold,” Tarun said.
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