Yes Bank Shares Plunge 30 Percent as Jet Airways Exposure Hurts

Yes Bank Shares Plunge 30 Percent as Jet Airways Exposure Hurts
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– The Indian banking sector has been struggling with high levels of non-performing assets, exacerbated by weak performances in the infrastructure and airline sectors

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– Yes Bank is part of a group of lenders to debt-ridden Jet Airways, which was forced to ground all flights earlier this month after it ran out of funds

– Gross slippages, or accumulation of fresh bad loans, came in at 34.81 billion rupees ($498.6 million) in the quarter ended March 31

– Of that, 5.52 billion rupees were on account of exposure to an airline, the bank said without naming the carrier

– While 5.29 billion rupees was on account exposure to struggling infrastructure conglomerate IL&FS

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