![Yes Bank aims to ramp up growth capital, margins](https://cdn.magzter.com/1574835453/1723415244/articles/v0Hqzp3gGrLY4fRdzpnsys/YES-BANK-AIMS-TO-RAMP-UP-GROWTH-CAPITAL-MARGINS.jpg)
This will have ₹11,000 crore getting released, ramping up its growth capital and margins. "Having achieved the PSL target last fiscal, we'll get ₹11,000 crore released from the RIDF by November or December, shoring up our growth capital and the margins. This means we can lend more, and improve our margins, leading to increased ROI," Prashant Kumar, managing director and chief executive of the bank, told TNIE in an interaction.
As much as ₹44,000 crore are tied up in the RIDF now for not achieving the mandated PSL targets in the previous four fiscals since the bankruptcy of the bank, he said. The RIDF, set up in 1995-96 to finance rural infrastructure projects, is maintained by the National Bank for Agriculture and Rural Development (Nabard).
"People are comparing us with competition, completely disregarding where we started off from. There are certain legacy issues as the bank was not meeting its priority sector lending targets, as a result ₹44,000 crore of our assets are sitting in the RIDF accounts where return is 2% below the repo rate," he said.
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