Mumbai: Yes Bank Ltd. fell after India’s central bank reprimanded it for selectively revealing a “confidential" report by the regulator that led to a 30 percent surge in the lender’s shares Thursday. But a Yes Bank statement on Wednesday had only said the audit found “nil divergences" in an assessment of bad loans for the year to March 2018, which led its shares to jump the most since 2005 the next day. Yes Bank was the worst performer on 10-member Bankex index, which was little changed. Yes Bank stood out from its peers in the wake of the RBI’s stricter disclosure standards for bad loans introduced in April 2017. While Yes Bank reported a discrepancy of more than 300 percent in 2017, the difference for Axis Bank Ltd. was 26 percent that year.

Source: Mint February 18, 2019 04:30 UTC