Yes, the bank says they can leave the reconstruction program once Rbi confirms the certificate of compliance


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Shares of Yes Bank Ltd ended at Rs 16.20, down Rs 0.55, or 3.28% on BSE.

Yes Bank said on Friday that it had amended the announcement made on July 15, 2022 regarding its exit from the 2020 reconstruction program after the private lender received clarification from the Reserve Bank of India (RBI) on the program.

The bank said on September 23 that it could exit the 2020 Reconstruction Scheme after the completion of the three-year lock-up period in respect of 75% of the shares (except for those who held less than 100 shares). ) held by existing shareholders.

In addition, the lender must submit a certificate of compliance to RBI stating that all program conditions have been met and obtain a confirmation of the same from the central bank.

In addition, the bank received confirmations from the depositories, namely Central Depository Services Ltd and National Securities Depository Ltd, that the blocked shares would be released on March 13, 2023, after the blocking period of March 12, 2023, via the automated system of custodians.

The central government had notified Yes Bank’s reconstruction program on March 13, 2020, after the private lender faced a governance crisis triggered by mismanagement at the highest level.

In line with the government’s reconstruction plan for the bank, incoming shareholding from shareholders holding 100 or more shares would be automatically blocked for three years. “In terms of the said clause, 75% of the stake of shareholders holding 100 or more shares will be automatically blocked,” he said earlier.

“As a result, all shareholders holding 100 or more Equity Shares are urged to exercise the utmost caution when dealing with the script

The SBI, which will hold a 49% stake in the bank via an equity injection of Rs 7,250 crore, will have a three-year lock-up period for only the 26% stake. Private sector financial entities will have to remain locked down for three years.


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