Markets regulator Sebi has imposed a penalty of Rs 25 crore on Yes Bank in the matter of misselling the lender's AT-1 bonds few years ago. Besides, the watchdog has imposed a fine of Rs 1 crore on Vivek Kanwar, who was the head of the private wealth management team, and Rs 50 lakh each on Ashish Nasa and Jasjit Singh Banga. The two individuals were part of the private wealth management team at the time of violation.
They need to pay the penalty within 45 days. During the process of selling of the AT-1 bonds, individual investors were not informed about all the risks involved in subscription of these bonds.
Yes Bank is engaged in providing banking services, including corporate and institutional banking, financial markets, investment banking, corporate finance, branch banking, business and transaction banking, and wealth management.
Company Name | CMP |
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HDFC Bank | 1507.20 |
ICICI Bank | 1090.25 |
Axis Bank | 1057.50 |
Indusind Bank | 1473.00 |
Kotak Mahindra Bank | 1813.70 |
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