Reliance Mutual Fund has reportedly asked Yes Bank promoters to top up their collateral by ₹500 crore after a precipitous decline in Yes Bank shares. As Mint reported here, the promoter family has pledged a stake amounting to about 7.34% in Yes Bank to Reliance Nippon Life Asset Management (RNAM) as collateral against debt issued to the mutual fund house by Morgan Credits Pvt Ltd, a firm owned by the promoter family. A Mint questionnaire to Reliance Mutual Fund on its exposure and action asking for a collateral hike went unanswered.'
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