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Monday, March 16, 2020

Yes Bank set exclude from Nifty 50 march 19 onwards

Yes Bank is going through real tough phase. This private lender agency has landed into new situation. From March 19 onwards, Yes bank will be no more index element of Nifty 50 benchmark. Other Nifty indices too had excluded it. Initial decision was to exclude from March 27. But keeping recent progress relatin to Yes bank and reconstruction scheme, NSE indices decided to accelerrate the removal of Yes Bank from Nifty 50.

Yes Bank set exclude from Nifty 50 march 19 onwards
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Previous month NSE Indices had declared Yes Bank being excluded from Nifty 50, 100 and included in Nifty Midcap 150, Nifty Midcap 50 and Nifty Midcap 100, Nifty MidSmallcap 400 and Nifty Midcap Liquid 15 from march 27, 2020.

The day after cabinet approval, the Government had notified Yes bank Limited Reconstruction scheme 2020. This scheme allows State Bank of India to invest 49 percent equity in Yes bank. However other banks are too eligible for investment. There is a mandatory three year lock period for the investors.