On Tuesday, the Share price of Yes Bank touched a 52-week low of Rs 198.65 as slipped 12%.

Yes Bank said in a statement to the stock exchanges,  “At the outset, the Bank would like to inform its stakeholders that the Bank and its MD & CEO (managing director and chief executive officer) will be fully guided by its Board of Directors (meeting scheduled on September 25, 2018), the Reserve Bank of India and other relevant stakeholders. The Bank’s management remains committed to protecting the interests of all of its stakeholders”.

On September 19, the Reserve Bank of India (RBI) had cut short Rana Kapoor’s tenure to five months permitting him to serve as the bank’s chief only up to January 31, 2019.

Yes Bank also added that “The Bank has a demonstrated track record of consistent delivery of business & financial outcomes over the last 14 years, since the commencement of its operations in mid-2004, across all critical parameters such as capital adequacy, credit risk, profitability, operating efficiency, growth, etc”.

The bank clarified on a report that RBI slaps Yes Bank with Rs 38 crores over GST Violations, stating that the heading used by news agency is inappropriate and RBI has not imposed any fines/ penalties over GST violations on the bank. Also, there has been no written communication in the form of a show-cause notice, or otherwise, provided to the bank on the matter by the authorities.

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