Yes Bank’s net profit surged to Rs 612 crore in the December 2024 quarter, driven by a robust growth in fee income, reduced RIDF deposits, and lower provisions due to improved asset quality. The bank’s non-interest income grew by 27%, and its gross NPA ratio dropped to 1.6%. Additionally, SME and mid-large corporate advances increased by 27% year-on-year.
RBI eases restrictions on cash credit accounts, eases current account norms
The Reserve Bank of India has lifted all restrictions on banks opening and maintaining cash credit accounts, offering greater flexibility for short-term working capital loans.