Yes Bank crashes 72% after RBI takes charge

Private lender Yes Bank lost nearly three-fourth of its share value during Friday’s early trade after RBI superseded its board on Thursday.

At 11.37 a.m., Yes Bank shares plunged over 72 per cent to Rs 10.20 a share.

The SBI board had given the largest lender an “in-principle” approval to invest in the capital-starved Yes Bank.

The central bank has also imposed a moratorium on the private lender till April 3, 2020. Withdrawals from the bank have been capped at Rs 50,000 per depositor.

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