Shares of financially troubled Yes Bank jumped over 60 per cent on Tuesday, a day after Moody’s upgraded bank’s ratings and changed the lender’s outlook to positive.

On Tuesday, the Yes Bank’s shares saw a high of Rs 64.15 and low of Rs 40.80. At 12.36 p.m. Yes Bank was trading at Rs 58.50.

“The upgrade of Yes Bank’s long-term issuer rating to Caa1 from Caa3, placing it at the same level as its long-term deposit ratings, takes into account the bailout of the bank’s depositors and senior creditors under the Yes Bank Reconstruction Scheme, as approved by the Indian Government on 13 March 2020,” Moody’s had said in a rating action report released on Monday.

Other than this, Reserve Bank Governor Shaktikanta Das’ assurance on the bank’s revival plan gave additional boost to the surge in Yes Bank’s shares.

Das also said that the central bank will infuse additional liquidity into the private lender, if required, and urged depositors that there was no need to carry out panic withdrawals after the moratorium on the bank ends on Wednesday (March 18).

A total of seven private banks along with the State Bank of India have so far committed investments into the bank.

Investment by private banks has so far reached Rs 3,950 crore. Among the private players, ICICI Bank and Housing Development Finance Corporation committed Rs 1,000 crore each. Axis Bank and Kotak Mahindra Bank committed to invest Rs 600 crore and Rs 500 crore, respectively.

Both Federal Bank and Bandhan Bank have been allotted shares for Rs 300 crore each as per their commitment and IDFC First Bank has been issued equity shares in the crisis-ridden bank for a consideration of Rs 250 crore.

Further, SBI which would hold 49 per cent stake in the cash-strapped lender has been allotted 605 crore shares for Rs 6,050 crore.

The private sector bank had been put under a moratorium by the Reserve Bank of India since March 5 which has restricted deposit withdrawals up to Rs 50,000 per month. Under the terms of the notified scheme, this moratorium will now be lifted at 6 p.m. on March 18 and the bank will full-fledged operations thereon.

(With input from agencies)