No F&O contracts for Yes Bank after May 28: NSE
Mumbai/UNI: All existing futures and options (F&O) contracts of Yes Bank, across all expiries, will expire on May 28, 2020, a circular issued by the National Stock Exchange of India (NSE) said on Friday.
No futures and options contracts will be available in Yes Bank for trading in equity derivatives segment from May 29, 2020, onwards, it said.
Due to the recent development in Yes Bank, it has decided that no fresh or renewal of bank guarantees and fixed deposit receipts issued by Yes Bank shall be accepted, it said.
Besides, NSE said the existing benefit provided to members towards bank guarantees and fixed deposit receipts issued by Yes Bank in favour of NSE clearing will be reduced.
Haircut in respect of shares of Yes Bank provided as collaterals shall be revised to 100 per cent with effect from the beginning day of March 06, 2020, said NSE.
The NSE released the circular after the Reserve Bank of India (RBI) imposed a moratorium on Yes Bank and restricted withdrawals.
The bank will not be allowed to pay depositors a sum exceeding Rs 50,000 lying in any savings, current or any other deposit account, a notification from the government said.
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