Crisis-hit YES Bank will get excluded from all indices of the leading stock exchange BSE with effect from March 20, the entity handling these indices said on Monday.
The decision has been taken in light of the recent developments relating to YES Bank Limited, in particular the Gazette notification dated March 13, 2020, on 'YES Bank Limited Reconstruction Scheme, 2020' and the potential impact on the ability of market participants to fully replicate S&P BSE Indices, it added.
"Effective at the open of Friday, March 20, 2020, YES Bank Limited will be removed from all S&P BSE indices," it said. These indices include S&P BSE AllCap, S&P BSE LargeCap, S&P BSE LargeMidCap, S&P BSE Finance, S&P BSE BANKEX, S&P BSE CARBONEX and S&P BSE Private Banks Index (INR).
These indices also include S&P BSE Enhanced Value Index, S&P BSE Dividend Stability Index, S&P BSE Diversified Financials Revenue Growth Index (INR), S&P BSE 100 ESG Index (INR), S&P BSE 500, S&P BSE 200, S&P BSE 100, S&P BSE SENSEX Next 50, S&P BSE 100 LargeCap TMC (INR), S&P BSE 250 LargeMidCap Index (INR) and E&P BSE SENSEX Next 50 TMC (INR).
The NSE has also announced that YES Bank will be excluded from all its indices.