Yes Bank shares fall 30% as RBI denies CEO's term extension

Yes Bank's shares tanked over 30% on Friday to hit a one-year low and wiped about $3.1 billion off its market value after RBI denied a three-year extension to CEO Rana Kapoor. Co-founded by Kapoor in 2004, Yes Bank is India's fourth-largest private sector bank with assets of $43.19 billion. RBI asked Kapoor to step down by January 31, 2019.