Yes Bank controversies
Controversies tied to this brand in public sources. A listing is not a finding of fault.
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2021
AT1 bond-sale allegations
SEBI proposed a penalty alleging that Yes Bank had sold Additional Tier 1 bonds without adequate warnings and risk assessment. The Securities Appellate Tribunal later granted an interim stay on the regulatory order.
2020
Banking crisis and RBI reconstruction
Yes Bank faced a severe capital, liquidity and asset-quality crisis. The RBI cited unsuccessful fundraising, concerns about non-performing assets and inaccurate or overly confident funding statements when it superseded the board and imposed a moratorium. The institution was subsequently reconstructed with support from State Bank of India and other investors.
2020
Yes Bank director resigns citing governance concerns
Issue disclosure
In January 2020, Yes Bank independent director Uttam Prakash Agarwal resigned from the board. In his resignation, he cited corporate governance and compliance failures and expressed reservations about the bank's capital-raising process and about appointments made under the new management. The resignation brought governance concerns at the bank into public view.
Source excerpt
Agrawal told Moneycontrol that he was unhappy with the way the private bank was dealing with capital raising. He also expressed his reservations on appointment of employees under the new management.
Agarwal resigns as independent director of Yes Bank, cites 'corporate governance failure'
2020
RBI places Yes Bank under moratorium and caps withdrawals
Ban or restriction
The Reserve Bank of India put Yes Bank under a moratorium and capped withdrawals at Rs 50,000 per account until further orders. The article states this happened on Thursday evening, March 5, 2020.
Stated objective. The RBI said the move was aimed at ensuring the safety of the financial system.
Source excerpt
The move is aimed at ensuring the safety of financial system, he added.
On Thursday evening, the central bank put Yes Bank under moratorium and capped withdrawals at Rs 50,000 per account till further orders.