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In 2020, the bank conducted a similar restructuring after current Managing Director Prashant Kumar took over following the Reserve Bank of India's intervention to prevent the bank from collapsing

Yes Bank lays off 500 employees in restructuring move: Report

In 2020, the bank conducted a similar restructuring after current Managing Director Prashant Kumar took over following the Reserve Bank of India's intervention to prevent the bank from collapsing

Yes Bank has reportedly laid off at least 500 employees as part of a restructuring exercise, according to an Economic Times report. The layoffs occurred across multiple sectors, including wholesale, retail, and branch banking. According to sources told the ET, these layoffs are part of an ongoing effort to become more operationally efficient. Also read/watch - <a title="Monetary policy will unambiguously focus on reducing inflation: RBI Governor Shaktikanta Das" href="https://www.editorji.com/business-news/economy/monetary-policy-will-unambiguously-focus-on-reducing-inflation-rbi-governor-shaktikanta-das-1719382648192">Monetary policy will unambiguously focus on reducing inflation: RBI Governor Shaktikanta Das</a> The ET report further adds that affected employees have been given three months' severance pay. This isn't the first time Yes Bank has undertaken such measures. In 2020, the bank conducted a similar restructuring after current Managing Director Prashant Kumar took over following the Reserve Bank of India's intervention to prevent the bank from collapsing.

Yes Bank was taken over by the central bank on March 5, 2020, and sold to a consortium of banks after a dramatic rise in toxic assets, which jumped to over 26 per cent

Yes Bank shares fall as 3-yr RBI-mandated lock-in ends

Yes Bank shares dip 8% as 3-yr RBI-mandated lock-in ends

The troubled Yes Bank was taken over by the central bank on March 5, 2020, and sold to a consortium of banks after a dramatic rise in toxic assets, which jumped to over 26 per cent

Yes Bank shares saw a sharp fall on Monday, as the Reserve Bank-mandated three-year lock-in period for individual investors and exchange-traded funds ends.&nbsp; Exchange-traded funds are also likely to press the exit button. Analysts quoted by Moneycontrol say as much as 1.35 billion shares are with individual investors &mdash; including retail, HNIs and NRIs &mdash; under the lock-in and another 67 million with exchange-traded funds, and that all these are likely to exit, if not at one go, over the next few weeks.&nbsp;
The analysts already expected the distress on the bank counter on Monday as they expect investors, primarily the nine banks led by State Bank, which picked up almost 49 per cent of its stocks in March 2020 for Rs 10 per share -- at a premium of Rs 8 on the face value as part of the RBI bailout, making an exit.
As of December 2022, SBI held 26.14 per cent or 6,050 million shares of Yes Bank; HDFC &amp; HDFC Bank and ICICI Bank held 1,000 million shares each; Axis Bank 600 million; Kotak Mahindra Bank 500 million; Federal Bank and Bandhan Bank 300 million each and IDFC First Bank held 250 million shares before it went belly up on March 5, 2020. These eight banks held originally almost 11 billion shares in the bank.
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yes bank crisis

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