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The board of Yes Bank approved a ₹8,898 crore ($1.1 billion) investment by private equity investors Advent and Carlyle, ending months of negotiations and marking another step on the way to the lender’s full recovery.
Referring to the 75th anniversary of India’s Independence, Prime Minister Modi underscored the future global role of the GIFT City in helping achieve the national goal of self-reliance in high finance.
India’s stock indices rose more than 1% on Friday as fresh foreign fund inflows coupled with expectations that the US Federal Reserve might slow the pace of rate increases kept the bullish momentum going.
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