Yes Bank shares continue to fall, slump 6% as RBI refuses more time to Kapoor

Shares of Yes Bank fell by 6 per cent Friday after the Reserve Bank refused to grant more time to its long serving CEO and MD Rana Kapoor and asked the private sector lender to appoint his successor latest by February 1, 2019.

The scrip dropped 6.06 per cent to settle at Rs 217.70 on the BSE. During the day, it slumped 8 per cent to Rs 213.10. The stock was the worst hit among the 30-Sensex blue chips.

On the NSE, shares of the company tanked 5.41 per cent to close at Rs 219.35. In terms of equity volume, 41.17 lakh shares of the company were traded on the BSE and over 5 crore shares changed hands on the NSE during the day.

Shares of Yes Bank had faced huge selling pressure Wednesday also, plunging nearly 7 per cent. Stock markets were closed Thursday for Dussehra.

"The Reserve Bank of India has reaffirmed that a successor to Shri Rana Kapoor, MD & CEO, YES Bank should be appointed by February 1, 2019," the lender had said in a stock exchange filing.

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The RBI had earlier curtailed the three-year term that the board had sought for Kapoor, also one of the promoters of the bank, to January 31, 2019, and asked the bank to find a replacement.