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Bandhan to replace YES Bank in Nifty Bank index

Earlier this month, BSE and NSE had said there will be no futures and options contract available in YES Bank for trading in equity derivative segment from May 29 onwards.

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Last Updated: Mar 12, 2020, 08.05 PM IST
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Reuters
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Crisis-hit YES Bank is scheduled to announce its third-quarter earnings on March 14.

MUMBAI: NSE said on Thursday its index unit will exclude YES Bank from Nifty Bank index and replace it with Bandhan Bank from March 27, on account of non-availability of futures and options contracts in the troubled lender.

YES Bank will also be replaced by ITC in Nifty50 Value 20 index.

Earlier this month, BSE and NSE had said there will be no futures and options contract available in YES Bank for trading in equity derivative segment from May 29 onwards.

The existing futures and options contracts across all expiries will expire on May 28.

YES Bank has been put under a moratorium by the Reserve Bank of India (RBI) till April 3, and customers are not allowed to withdraw more than Rs 50,000 from their accounts. During the moratorium period, the bank will not be able to grant or renew any loan or advance, make any investment, incur any liability or agree to disburse any payment.

The crisis-hit bank is scheduled to announce its third-quarter earnings on March 14.

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