Yes Bank share fell as much as 8 percent to Rs 201 per share after the Reserve Bank of India (RBI) threatened further regulatory action against the bank over its public disclosure of nil divergence report. At 11.16 AM, Yes Bank’s stock price was trading 2.15 percent lower at Rs 214.30 per share on the BSE, while the Sensex was down 0.66 percent at 35,571.48.

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Yes Bank on Friday said that it has received a letter from the central bank stating that the press release issued by Yes Bank on nil divergence breaches confidentiality and violates regulatory guidelines. RBI viewed the issuance of the press release as a serious matter and said that it could entail further regulatory actions against Yes Bank.

The nil divergence is not an achievement to be published and is only compliance with the extent income recognition and asset classification norms, RBI said in a letter.

RBI said the Risk Assessment Report (RAR) issued to Yes Bank had identified several other lapses and regulatory breaches in various areas of the bank's functioning and the disclosure of just one part of the report is viewed by the central bank as a deliberate attempt to mislead the public.

First Published:Feb 18, 2019 9:29 AM IST