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The resignation comes amid regulatory scrutiny over irregularities in the bank’s derivatives portfolio.
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After the derivatives hedging fiasco triggered the resignations of top executives, indications are that the regulator expects the private lender’s board to do a thorough cleanup.
An independent investigation, in its report, blames the notional recording of profits by the bank in its internal derivatives trades.
The Yes Bank CEO ushers in a spate of changes in the retail banking business to stem its loss-making streak.