Lending major Yes Bank on Thursday submitted the names of the potential candidates for its Managing Director and Chief Executive post to the Reserve Bank of India (RBI).

According to the bank, the Board has submitted an application to the RBI to seek its approval for the names of the selected candidates.

Shares of YES Bank fell as much as 5.6 per cent to Rs 181.55 on the BSE in intra-day trade on Wednesday as the investors awaited the outcome of the bank's board meeting in regards to the appointment of the new managing director (MD) and chief executive officer (CEO).

At 2:22 pm, the stock of the private sector lender was trading at Rs 187.50 down Rs 4.80 or 2.5 per cent. Over 5.4 crores of shares were traded on the BSE and National Stock Exchange (NSE) so far.

Yes Bank is adequately capitalised to achieve a retail book size of 17.5% of total advances for this fiscal against a current retail book size of around Rs 33,000 crore though it remains fairly risk-averse, staying away from the high-end home loan segment and consumer durables thus far. The bank aims for a retail book size of Rs 55,000 crore or 20% of total advances next fiscal year, group president and group head – branch & retail banking at Yes Bank Rajan Pental said.

Yes Bank has recommended the name of its board member Brahm Dutt for the post of Chairman to the RBI, according to sources. The Chairman post fell vacant after the resignation of Ashok Chawla in November following issues related to probity. “The bank has sent the name of Dutt to the Reserve Bank for the Chairman post,” a source said Tuesday.

Mumbai: Yes Bank shares advanced over 12% in the last two consecutive sessions, hitting a two-week high ahead of its board meeting on Thursday. Today, the Yes Bank stock closed at Rs 186.80 on BSE, up 5.3% from its previous close while India’s benchmark Sensex Index rose 1.8% to 35,779.07 points.

Private sector lender YES Bank on Tuesday said its wholly-owned subsidiary YES Asset Management has received markets regulator Sebi's approval to launch two mutual fund schemes.

YES Asset Management (India) is the latest Indian company to enter the mutual fund segment.

As negative news flow on Yes Bank’s governance issues continue unabated, we ask ourselves as we did with ICICI – Is this time any different? We decide to look at Sir Templeton’s words of wisdom with a twist – and reiterate our Buy stance on YES.

We look to when ICICIBC was in similar predicaments in Apr’18 & Feb’16, being put to the test as negative newsflow led to derating.

Bangalore: Shares of Yes Bank Ltd plunged to their lowest in more than two years on Thursday after credit rating agencies ICRA and CARE Ratings downgraded ratings on the lender’s debt instruments. India’s fifth largest private-sector lender by assets has had a tumultuous couple of months, with its stock nearly halving in value this year and a number of departures from its board, since the country’s central bank cut short its chief executive officer’s term in September.

Shares of YES Bank slipped as much as 2.1 per cent to Rs 184 in the intra-day trade on the National Stock Exchange (NSE) after a news report suggested that the Reserve Bank of India (RBI) on Monday began examining the private bank's exposure to various Non-Banking Finance Companies (NBFCs).

YES Bank shares could be volatile this week as investors debate about the fate of mutual fund holdings of the debt issued by two promoter companies after the bank’s stock price halved from its peak in August.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.