Key Financial Figures
- Bank Guarantee Amount: ₹281.44 crores
- Issuance Year: 2018
- Net Exposure: Amount invoked less provisions already held (exact amount not specified but exceeds materiality threshold)
Background Context
The bank guarantees were issued in 2018 in favor of the Department of Telecommunications on behalf of a borrower to secure deferred annual spectrum payment obligations. The borrower has been undergoing a corporate insolvency resolution process under the Insolvency and Bankruptcy Code, 2016 since 2018 and is under the management of a Resolution Professional (RP). YES BANK's claim for the bank guarantee amount has already been admitted in the ongoing insolvency proceedings.
Recent Development
DoT invoked the bank guarantees via letter dated August 14, 2026. The bank is currently evaluating an appropriate course of action in consultation with its legal advisors regarding this invocation.
Additional Information
The weblink to the exchange announcements is being hosted on the bank's website www.yes.bank.in pursuant to Listing Regulations.