Yes Bank News LIVE Updates: No F&O trading to be allowed in equity derivatives from May 29

Yes Bank News LIVE Updates: No F&O trading to be allowed in equity derivatives from May 29

The Reserve Bank of India (RBI) has superseded the Yes Bank board with immediate effect.

The Reserve Bank of India (RBI) on March 5 said it is superseding the board of troubled private sector lender YES Bank with immediate effect.

Former State Bank of India CFO Prashant Kumar has been appointed the administrator.

"This has been done to quickly restore depositors' confidence in the bank, including by putting in place a scheme for reconstruction or

Yes Bank emerged at a time when customers had limited options – state-owned public sector banks and a few old generation private banks. In the next 10 years, the bank rose to be among India’s top five private banks’ and was viewed favourably by analysts and experts.

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