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Will exit reconstruction scheme after lock-in period ends: YES Bank

The RBI has set three parameters for YES Bank before it can leave the reconstruction scheme

YES Bank
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In June 2022, the board of YES Bank recommended the formation of an alternate board on the back of the private sector bank attaining a turnaround and achieving significant progress after the implementation of the reconstruction scheme

Bhaskar Dutta Mumbai
YES Bank on Friday claimed that the Reserve Bank of India (RBI) would allow the lender to exit the reconstruction scheme it entered in March 2020 after the end of a three-year lock-in period for those who invested in its share.

The completion of the lock-in period of three years concerns 75 per cent of YES Bank’s shares and does not impact those who held less than 100 shares, the private lender informed exchanges.

“In this regard, it may be noted that the bank has received confirmations from depositaries, viz Central Depository Services (India) Limited (CDSL) and National Securities Depository

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First Published: Sep 23 2022 | 9:04 PM IST

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