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Yes Bank to increase authorized share capital

Yes Bank Ltd.'s board approved an increase in the authorized share capital of the bank to 11 billion Indian rupees from 8 billion rupees.

The lender said it has used the capital raising limit under the previously approved resolution in its decision to raise capital.

Yes Bank said it needs approvals from the Reserve Bank of India and its shareholders to increase its authorized share capital.

As of Aug. 30, US$1 was equivalent to 71.55 Indian rupees.