Mumbai, September 21: Yes Bank today plunged almost 34 percent intraday to register its worst single-day fall since listing. The stock has recovered marginally and is currently trading at Rs 225.75, down 93 points, 29.12 percent. The massive fall took place after Reserve Bank of India (RBI) reduced the tenure of Rana Kapoor, promoter, chief executive and managing director, to January 31, 2019. No particular reason has been given behind the decision. Sensex Sees Bloodbath With 1,000 Points Fall, Recovers Later; Nifty Plunges by Over 100 Points.

Kapoor co-founded the bank and has been instrumental in its rise to become India`s fifth-largest private sector bank with assets of $43.19 billion. Reportedly, RBI's move came after Yes Bank`s shareholders voted in June to extend Kapoor`s term as CEO and managing director for three years.

The Sensex today morning tumbled almost 1000 points and is currently trading at 36,819, down 0.84 percent. The benchmark indices have started recovering taking cues from the global market and on a firm rupee. The markets were closed on Thursday on account of Muharram. Nifty has fallen 100 points and it has given up 11,200 as well.

(The above story first appeared on LatestLY on Sep 21, 2018 03:13 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).