We met Yes Bank's senior management recently and continue to remain positive about the bank's execution abilities. Key takeaways from the meeting: a) Asset quality: The space to look out for any incremental stress will be the power sector (especially thermal) and some telecom sector companies. Management believes most of the NCLT cases will go for restructuring rather than liquidation and IRPs have already begun receiving restructuring proposals. b)International Financial Reporting Standards (IFRS): While the timelines on implementation are still not clear, Yes Bank will need additional provisioning to the extent of INR 6bn-INR 7bn and will potentially have an impact on fee income recognition (15%-20%...