The Altico mess and pain for Yes Bank

Yes Bank Bad news surrounding Yes Bank doesn’t seem to stop. In September, the default of unlisted NBFC Altico Capital for ₹19.97 crore of interest income on an external commercial borrowing of ₹340 crore from UAE-based Mashreq Bank led to a ratings downgrade by various agencies. According to an India Ratings note, Yes Bank has a ₹450 crore exposure to Altico. Several other banks—including State Bank of India (₹363 crore), HDFC Bank (₹280 crore); Bank…

"The Altico mess and pain for Yes Bank"