Yes Bank receives loan repayment of Rs 1480 cr

Yes Bank has received a payment amounting to Rs 1,480 crores towards repayment of an outstanding Project Loan facility, originally sanctioned for Rs 1950 crores in the year 2018.

The aforesaid loan had undergone Scheduled Commercial Operations Date (SCOD) extension and was therefore classified as Standard Restructured advance in line with the extant IRAC Norms and was appropriately provisioned for.

As a result of this repayment in entirety, there has been a release of provision.