Yes Bank Limited — Important, 20-12-2024: General Updates

YES BANK has received an order from the Karnataka GST department related to FY 2018-19, which includes a demand along with a penalty of ₹1,54,150. The penalty is imposed according to the provisions of the Central and Karnataka Goods and Services Tax Acts. The bank believes it has strong grounds to contest this order and does not anticipate any significant impact on its financial, operational, or other activities as a result. Further legal actions will be pursued to challenge the order. This situation warrants monitoring as it could influence YES BANK’s operational landscape in the coming months.