YES Bank shares fall 14% in 10 days, slips below Rs 20; RBI extends tenure of Prashant Kumar

Shares of YES Bank Ltd extended its fall by another 2 per cent on Friday to drop more than 14 per cent in the last 10 trading sessions. However, the Reserve Bank of India (RBI) has extended the tenure of Prashant Kumar as the Managing Director and CEO of YES Bank, it said in an exchange filing.

"We would like to inform that RBI vide its letter dated June 12, 2025 has approved the extension of the tenure of appointment of Mr. Prashant Kumar as Managing Director & CEO for a further period of six months with effect from October 6, 2025 or till the appointment of new Managing Director and CEO/successor taking charge, whichever is earlier," said the filing.

Shares of YES Bank dropped 2.20 per cent to slip below Rs 20-mark at Rs 19.97 on Friday, with its total market capitalization slipping below Rs 63,000 crore. The stock had settled at Rs 20.42 on Thursday. It has fallen more than 14 per cent in the last 10 days from Rs 23.27 on June 2.

In May 2025, YES Bank announced a 20 per cent stake sale involving State Bank of India (SBI) and seven other private lenders, including HDFC Bank and ICICI Bank. They are selling to Japan's Sumitomo Mitsui Banking Corporation (SMBC), with over 413 crore shares sold for Rs 13,482 crore at Rs 21.50 each.

YES Bank's shares declined after a 2.62 per cent reduction in stake by CA Basque Investments through open market transactions. The bank plans to raise Rs 16,000 crore via equity and debt instruments.

YES Bank addressed media reports suggesting SMBC was seeking approval from the Reserve Bank of India (RBI) to operate a wholly-owned subsidiary. YES Bank clarified it is not privy to discussions in relation to matters stated in the article.