YES Bank falls 6% as R Chandrasekhar resigns from board

In past one week, the stock underperformed the market by falling 15%, as compared to a 1.5% rise in the S&P BSE Sensex.

Shares of YES Bank have dipped 6.5% to Rs 192 per share on Tuesday, erasing almost its entire Monday’s 7% gain on  BSE, after the bank’s independent director Rentala Chandrashekhar put in his papers.

“Rentala Chandrashekhar, non-executive, independent director has tendered his resignation from the bank's board, on November 19, 2018, with immediate effect, due to personal reasons,” YES Bank said on Monday after market hours.

The Nomination & Remuneration Committee of the bank will look for a suitable replacement in the field of information technology and cybersecurity in terms of applicable provisions of Securities and Exchange Board of