September 21, 2018 / 4:28 AM / a month ago

India's Yes Bank tanks after cenbank trims CEO's term

Sept 21 (Reuters) - Shares of India’s Yes Bank Ltd plummeted on Friday and were on track for their worst day since market debut after the Reserve Bank of India curtailed Chief Executive Officer Rana Kapoor’s term until Jan. 31, 2019.

The stock plunged as much as 31.7 percent to 287.30 rupees, with more than 105 million shares changing hands - over 5 times their 30-day average volume.

RBI and Yes Bank did not immediately respond to request for comment. (Reporting by Sharnya G in Bengaluru; Editing by Gopakumar Warrier)

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