Yes Bank settles 'selective disclosure' of asset quality case with Sebi

The lender pays Rs 51.6 lakh as settlement charges under so-called consent mechanism; its compliance officer pays another Rs 14.45 lakh as settlement in the same matter

YES Bank has settled a case pertaining to ‘selective disclosure’ of assets quality with market regulator Securities and Exchange Board of India (Sebi).

The private sector lender settled the matter under the so-called consent mechanism paying Rs 51.6 lakh as settlement charges. Yes Bank’s compliance officer Shivanand Shettigar paid another Rs 14.45 lakh as settlement charges in the same matter.

In February, Yes Bank had made a disclosure to the stock exchanges stating that the Reserve Bank of India (RBI) had not found any divergence in the asset classification and provisioning done by the lender for 2017-18.  Following the disclosure,