YES Bank to be dropped from Nifty 50 from March 19th March instead of 27th March

Published On: Monday, March 16, 2020 | By: Team KnowMyStock

Troubled Yes Bank will be dropped from benchmark index Nifty 50, banking index Nifty bank and other Nifty indices from March 19, NSE Indices said on Monday. Earlier, the changes were scheduled to happen on March 27, NSE Indices, a subsidiary of the National Stock Exchange (NSE), said in a statement. However, in light of the recent developments relating to Yes Bank and its reconstruction scheme, NSE Indices' Index Maintenance Sub-Committee (IMSC) has decided to accelerate the removal of Yes Bank from Nifty 50 and Nifty Bank and also remove it from all Nifty equity indices from Thursday, March 19. Shree Cement will replace the private lender in Nifty 50 and in the Nifty bank index, Bandhan Bank will find a place. The troubled lender will also be removed from Nifty 100 and Nifty 500.

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