YES Bank falls 7% after Ashok Chawla resigns as non-executive chairman

In the past two months, the stock has fallen 30 per cent from Rs 319 on September 17 to Rs 223, as of November 14, 2018.

Shares of private sector lender YES Bank slipped as much as 6.67 per cent to Rs 207.65 apiece on the BSE in the early morning trade on Thursday after Ashok Chawla, the bank's non-executive chairman, stepped down with immediate effect, following his name appearing in Aircel-Maxis controversy. Independent Director Vasant Gujarathi has also quit, citing personal commitments.

The bank's board has appointed Uttam Prakash Agarwal as additional director (Independent) for five years, subject to shareholder’s approval. READ MORE

YES Bank is also in the process of selecting a new managing director and chief executive, to succeed Rana