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Yes Bank shares put on restrictions by NSE


New Delhi, Mar 06: The National Stock Exchange (NSE) on Friday put restrictions on Yes Bank shares in various segments, including futures and options.

In a rare move, capital-starved Yes Bank was on Thursday placed under a moratorium, with the RBI capping deposit withdrawals at Rs 50,000 per account for a month and superseding its board.

Yes Bank shares put on restrictions by NSE

The categories placed under restriction include debt, securities lending and borrowing scheme, currency derivatives, commodity derivatives, futures and options, as per notification by NSE.

Digital partners of Yes Bank hit by moratoriumDigital partners of Yes Bank hit by moratorium

"Due to the recent development in Yes Bank it has been decided that no fresh or renewal of bank guarantees and fixed deposit receipt issued by the bank limited will be accepted," it said.

    NEWS AT NOON MARCH 6th, 2020

    The existing benefit provided to members towards Bank Guarantees and Fixed Deposit Receipt issued by Yes Bank in favour of NSE Clearing Ltd, shall also be reduced, it added.

    "The financial position of Yes Bank has undergone a steady decline largely due to inability of the bank to raise capital to address potential loan and losses and resultant downgrades, triggering invocation of bond covenants by investors and withdrawal of deposits," NSE said in a separate circular.

    Yes Bank resolution will be done swiftly, 30 days is outer limit: RBI Yes Bank resolution will be done swiftly, 30 days is outer limit: RBI 

    The bank has also experienced serious governance issues and practices in the recent years which have led to steady decline of the bank, it added.

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