A gaping hole in its books in the midst of a leadership crisis has seriously impacted India’s fifth largest private sector lender. Can its MIA promoters step up and restore the confidence of depositors and investors?
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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.