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AT-1 bond case: SEBI imposes penalty of ₹25 crore on YES Bank April 12, 2021 × The bank needs to pay the penalty within 45 days of the receipt of the order SEBI has imposed a penalty of ₹25 crore on private sector lender YES Bank in the matter of Additional Tier 1 bonds. It has also imposed a fine of ₹1 crore on Vivek Kanwar, who was the head of the bank’s Private Wealth Management Team, and of ₹50 lakh each on Ashish Nasa and Jasjit Singh Banga, who were part of the team. Noting that more such complaints are being received by SEBI even after initiation of these proceedings, the order further said: “Therefore, on account of such misrepresentation and fraud perpetrated on its own customers, which lured them and induced them to buy these risky AT-1 bonds and also induced some of them to alter their position from FDs to these AT1 bonds, such acts have to be viewed seriously. Therefore, I consider a penalty of ₹25 crore on Noticee 1 in terms of Section 15HA of SEBI A

Vivek kanwarJasjit singh bangaWealth management teamAdditional tierPrivate wealth management teamAshish nasaSuper fixed depositsShow cause noticeFixed depositsசெல்வம் மேலாண்மை அணிஅருமை சரி செய்யப்பட்டது வைப்புகாட்டு காரணம் அறிவிப்புசரி செய்யப்பட்டது வைப்பு