Yes Bank is the top loser on the BSE currently, going down over 7% to Rs.338, with the overall mood on the counter being negative.
The market is not happy with the uncertainty now surrounding the CEO’s extension. The RBI put off the decision of allowing CEO Rana Kapoor to continue for another 3-year term. The RBI gave its approval continue as managing director and CEO of the Mumbai-based lender until “further notice.”
Yes Bank shareholders had voted in June to approve a three-year extension for the CEO, whose current term was set to end Aug. 31.