Yes Bank Share Will Be in Focus on Tuesday, But why?

The board of directors of Yes Bank has extended the term of Sumit Gupta as Chief Risk Officer by three months. Sumit Gupta was appointed as the Chief Risk Officer of Yes Bank on 28 August 2020.

Yes Bank 

In the information given to the exchanges, Yes Bank said, “The Bank had appointed Sumit Gupta as Chief Risk Officer on 28 August 2020 for a period of three years. Now Sumit Gupta will be the Chief Risk Officer of the bank for the next 3 months from 1 September 2023. The board of directors of the bank has approved it.

In a separate statement, Yes Bank said, "There are some rumors circulating in the market that JC Flowers ARC has been wrongly mentioned as the asset reconstruction arm of the bank.  The bank said, “The Bank wishes to clarify that following the sale of the identified loan portfolio to JC Flowers ARC in December 2022 (disclosed earlier on December 17, 2022), the disposal being undertaken by JC Flowers ARC/ The bank has no role in the negotiation.

YES Bank said its association with the JC Flowers ARC is limited only to the extent of its current shareholding of 9.9 per cent.