Yes Bank CEO, MD, chairman, board of directors and AGM

Mutual fund votes, meeting of 24 Oct 2025, 28 fund houses

• TO TAKE NOTE OF REAPPOINTMENT OF MR. RAMA SUBRAMANIAM GANDHI (DIN: 03341633) AS NON-EXECUTIVE PART-TIME CHAIRMAN OF THE BANK AND TO APPROVE PAYMENT OF REMUNERATION THERETO

  27 for0 against

  1 abstained

• TO APPROVE THE APPOINTMENT OF MR. SHINICHIRO NISHINO (DIN: 11290100) AS A NON-EXECUTIVE AND NON-INDEPENDENT DIRECTOR (NOMINEE OF SUMITOMO MITSUI BANKING CORPORATION) OF THE BANK

  27 for0 against

  1 abstained

• TO APPROVE THE APPOINTMENT OF MR. RAJEEV VEERAVALLI KANNAN (DIN: 01973006) AS A NON-EXECUTIVE AND NON-INDEPENDENT DIRECTOR (NOMINEE OF SUMITOMO MITSUI BANKING CORPORATION) OF THE BANK

  27 for0 against

  1 abstained

• TO APPROVE THE REVISED REMUNERATION AND VARIABLE PAY OF MR. PRASHANT KUMAR (DIN: 07562475), MANAGING DIRECTOR & CHIEF EXECUTIVE OFFICER OF THE BANK

  27 for0 against

  1 abstained

• TO APPROVE THE REVISED REMUNERATION AND VARIABLE PAY OF DR. RAJAN PENTAL (DIN: 08432870), EXECUTIVE DIRECTOR OF THE BANK

  27 for0 against

  1 abstained

• TO APPROVE THE REVISED REMUNERATION AND VARIABLE PAY OF MR. MANISH JAIN (DIN: 10774800), EXECUTIVE DIRECTOR OF THE BANK

  27 for0 against

  1 abstained

Mutual fund votes, meeting of 21 Aug 2025, 28 fund houses

• To receive, consider and adopt: a. the audited standalone financial statements of the Bank for the financial year ended March 31, 2025 and the Reports of the Board of Directors and the Auditors thereon; and b. the audited consolidated financial statements of the Bank for the financial year ended March 31, 2025 and the Report of the Auditors thereon.MoreLess

  27 for0 against

  1 abstained

• To appoint M/s. BNP & Associates, firm of Practicing Company Secretaries, as Secretarial Auditors

  ›Against Angel One Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, PPFAS Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual FundGovernance Concern: Failure to highlight previous and continuing non-compliance by the Bank in the Secretarial Audit Report or Compliance Report for FY 2024-25.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundCompliant with law. Governance Concern: Failure to highlight previous and continuing non-compliance by the Bank in the Secretarial Audit Report or Compliance Report for FY 2024-25.
  • PPFAS Mutual FundSecretarial auditors’ failure to highlight non compliance on the Board

  18 for9 against

  1 abstained

• To approve appointment of Mr. Shivakumar Dega (DIN: 00364444) as a Non-Executive Director

  27 for0 against

  1 abstained

• To approve extension of tenure i.e. Re-appointment of Mr. Prashant Kumar (DIN: 07562475), Managing Director & Chief Executive Officer of the Bank and payment of Remuneration thereto

  27 for0 against

  1 abstained

• To approve material related party transactions with State Bank of India and modification(s) thereto

  27 for0 against

  1 abstained

• To approve the ‘YBL Restricted Stock Units Plan 2025’

  27 for0 against

  1 abstained

• To approve special rights granted to Verventa Holdings Limited

  27 for0 against

  1 abstained

• To approve special rights granted to Sumitomo Mitsui Banking Corporation and Amendment to the Articles of Association of the Bank to include certain special rights

  ›Against Angel One Mutual Fund, Axis Mutual Fund, Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, LIC Mutual Fund, Mirae Asset Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Nippon India Mutual Fund, NJ Mutual Fund, PPFAS Mutual Fund, Unifi Mutual Fund, Zerodha Mutual Fund

  • Angel One Mutual Fund, LIC Mutual Fund, Nippon India Mutual FundGovernance Concern: Provisions to appoint Alternate Directors; Position in committee should be determined considering the role of the committee and the expertise of the Director and not on the basis of any special rights.
  • Axis Mutual Fund, NJ Mutual Fund, Unifi Mutual FundThe bank seeks approval for certain special rights provided to Sumitomo Mitsui Banking Corporation (SMBC) in the share purchase agreement (SPA) and to amend the Articles to include certain identified SMBC Special Rights. As per the SPA, SMBC is eligible to appoint two non-executive, non-independent directors (SMBC Directors) on the Board as long as SMBC holds less than 25% equity but more than 15%, and one nominee of their shareholding drops below 15% upto 10%. At below 10% equity, SMBC will not have any board nomination rights. Further, SMBC will have the right to nominate at least one SMBC Director on each of the committees of the Board, i.e. the Audit Committee, Nomination and Remuneration Committee and Risk Management Committee. The board nomination and committee representation rights of SMBC will fall away upon SMBC ceasing to hold at least 10% of the bank’s total paid-up share capital. We do not favour provisions that allow committee nomination rights as we believe board committee composition is a prerogative of the board and must be decided by the board independently. We do not support the resolution.
  • Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Navi Mutual Fund, Zerodha Mutual FundComplaint with law. Governance Concern: Provisions to appoint Alternate Directors; Position in committee should be determined considering the role of the committee and the expertise of the Director and not on the basis of any special rights.
  • ICICI Prudential Mutual FundAmendment of Articles of Association to appoint Nominee Director of Sumitomo Mitsui Banking Corporation to board committees compromises the Board’s functioning with respect to appointment of directors to its different committees. Hence, the AMC has voted against the resolution;
  • Invesco Mutual FundThe bank seeks approval for certain special rights provided to Sumitomo Mitsui Banking Corporation (SMBC) in the share purchase agreement (SPA) and to amend the Articles to include certain identified SMBC Special Rights. As per the SPA, SMBC is eligible to appoint two non-executive, non-independent directors (SMBC Directors) on the Board as long as SMBC holds less than 25% equity but more than 15%, and one nominee of their shareholding drops below 15% upto 10%. At below 10% equity, SMBC will not have any board nomination rights. Further, SMBC will have the right to nominate at least one SMBC Director on each of the committees of the Board, i.e. the Audit Committee, Nomination and Remuneration Committee and Risk Management Committee. The board nomination and committee representation rights of SMBC will fall away upon SMBC ceasing to hold at least 10% of the bank’s total paid-up share capital. We do not favour provisions that allow committee nomination rights as we believe board committee composition is a prerogative of the board and must be decided by the board independently. We do not support the resolution
  • Kotak Mahindra Mutual FundThe bank seeks approval for certain special rights provided to Sumitomo Mitsui Banking Corporation (SMBC) in the share purchase agreement (SPA) and to amend the Articles to include certain identified SMBC Special Rights. As per the SPA, SMBC is eligible to appoint two non-executive, non-independent directors (SMBC Directors) on the Board as long as SMBC holds less than 25% equity but more than 15%, and one nominee of their shareholding drops below 15% upto 10%. At below 10% equity, SMBC will not have any board nomination rights. Further, SMBC will have the right to nominate at least one SMBC Director on each of the committees of the Board, i.e. the Audit Committee, Nomination and Remuneration Committee and Risk Management Committee. The board nomination and committee representation rights of SMBC will fall away upon SMBC ceasing to hold at least 10% of the bank s total paid-up share capital. We do not favour provisions that allow committee nomination rights as we believe board committee composition is a prerogative of the board and must be decided by the board independently. We do not support the resolution. Hence, we are voting against.
  • Mirae Asset Mutual Fundas per advisory recommendation (Passive voting)
  • PPFAS Mutual FundCommittee positions linked to special rights; Provision to appoint Alternate Director

  10 for17 against

  1 abstained

• To approve special rights granted to State Bank of India and Amendment to the Articles of Association of the Bank to include certain special rights

  ›Against Axis Mutual Fund, ICICI Prudential Mutual Fund, Invesco Mutual Fund, Kotak Mahindra Mutual Fund, Mirae Asset Mutual Fund, Nippon India Mutual Fund, Unifi Mutual Fund

  • Axis Mutual Fund, Unifi Mutual FundThe bank seeks approval for certain special rights provided to State Bank of India in the share purchase agreement (SPA) and to amend the Articles to include certain identified SBI Special Rights. SBI invested in the bank as part of the YES Bank Reconstruction Scheme in March 2020 and currently has two Nominee Directors. As per the SPA, SBI is eligible to appoint one non-executive and non-independent director (SBI Directors) on the Board as long as SBI holds at least 5% of the share capital. While we raise concern that SBI Director is not liable to retire by rotation, we draw comfort from SEBI’s new amendments, which require shareholder approval for all directors at least once in five years. Further, SBI will have the right to nominate an SBI Director on each of the committees of the Board. The board nomination and committee representation rights of SBI will fall away completely upon SBI ceasing to hold at least 5% of the Bank’s total paid-up share capital. We do not favour provisions that allow committee nomination rights as we believe board committee composition is a prerogative of the board and must be decided by the board independently. We do not support the resolution.
  • ICICI Prudential Mutual FundAmendment of Articles of Association to appoint Nominee Director of SBI to board committees compromises the Board’s functioning with respect to appointment of directors to its different committees. Hence, the AMC has voted against the resolution;
  • Invesco Mutual FundThe bank seeks approval for certain special rights provided to State Bank of India in the share purchase agreement (SPA) and to amend the Articles to include certain identified SBI Special Rights. SBI invested in the bank as part of the YES Bank Reconstruction Scheme in March 2020 and currently has two Nominee Directors. As per the SPA, SBI is eligible to appoint one non-executive and non-independent director (SBI Directors) on the Board as long as SBI holds at least 5% of the share capital. While we raise concern that SBI Director is not liable to retire by rotation, we draw comfort from SEBI’s new amendments, which require shareholder approval for all directors at least once in five years. Further, SBI will have the right to nominate an SBI Director on each of the committees of the Board. The board nomination and committee representation rights of SBI will fall away completely upon SBI ceasing to hold at least 5% of the Bank’s total paid-up share capital. We do not favour provisions that allow committee nomination rights as we believe board committee composition is a prerogative of the board and must be decided by the board independently. We do not support the resolution
  • Kotak Mahindra Mutual FundThe bank seeks approval for certain special rights provided to State Bank of India in the share purchase agreement (SPA) and to amend the Articles to include certain identified SBI Special Rights. SBI invested in the bank as part of the YES Bank Reconstruction Scheme in March 2020 and currently has two Nominee Directors. As per the SPA, SBI is eligible to appoint one non-executive and non-independent director (SBI Directors) on the Board as long as SBI holds at least 5% of the share capital. While we raise concern that SBI Director is not liable to retire by rotation, we draw comfort from SEBI s new amendments, which require shareholder approval for all directors at least once in five years. Further, SBI will have the right to nominate an SBI Director on each of the committees of the Board. The board nomination and committee representation rights of SBI will fall away completely upon SBI ceasing to hold at least 5% of the Bank s total paid-up share capital. We do not favour provisions that allow committee nomination rights as we believe board committee composition is a prerogative of the board and must be decided by the board independently. We do not support the resolution. Hence, we are voting against.
  • Mirae Asset Mutual Fundas per advisory recommendation (Passive voting)
  • Nippon India Mutual FundGovernance Concern: Lack of Clarity

  20 for7 against

  1 abstained

• To approve raising of funds by way of issuance of eligible equity securities

  27 for0 against

  1 abstained

• To approve borrowings / raising of funds by way of issuance of eligible debt securities

  27 for0 against

  1 abstained

Mutual fund votes, meeting of 28 Feb 2025, 18 fund houses

• Appointment of Mr. Manish Jain (DIN: 10774800) as a Director of the Bank with effect from December 11, 2024

  ›Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundAppointment compliant with law. No concern on the merits of the proposed appointee. Governance Concern: Non-Compliant Board u/s 152 of Companies Act; appointment as a Non-Retiring Director is further increasing the Non-Compliance.
  • Edelweiss Mutual FundNon compliant. Appointing as non retiring director
  • LIC Mutual FundThere are governance concerns on the constitution of the Board under Sec 152 of Company’s Act. The terms of this additional appointment add to those concerns.
  • Nippon India Mutual FundProfile of the Candidate

  11 for7 against
• Appointment of Mr. Manish Jain (DIN: 10774800) as an Executive Director of the Bank for a period of three years with effect from December 11, 2024 to December 10, 2027 and payment of remuneration

  ›Against Bandhan Mutual Fund, Edelweiss Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, Motilal Oswal Mutual Fund, Zerodha Mutual FundAppointment compliant with law. No concern on the merits of the proposed appointee. Governance Concern: Non-Compliant Board u/s 152 of Companies Act; appointment as a Non-Retiring Director is further increasing the Non-Compliance.
  • Edelweiss Mutual FundNon compliant. Appointing as non retiring director
  • LIC Mutual FundThere are governance concerns on the constitution of the Board under Sec 152 of Company’s Act. The terms of this additional appointment add to those concerns.
  • Nippon India Mutual FundProfile of the Candidate

  11 for7 against
• Approval for revision in Remuneration and Variable Pay of Mr. Prashant Kumar (DIN: 07562475), Managing Director & Chief Executive Officer of the Bank

  18 for0 against
• Approval of Remuneration including Variable Pay of Dr. Rajan Pental (DIN: 08432870), Executive Director of the Bank

  18 for0 against

Mutual fund votes, meeting of 23 Aug 2024, 15 fund houses

Each resolution counts the houses whose vote was matched to it; the rest are listed last.

• To receive, consider and adopt:na. the audited standalone financial statements of the Bank for the financialnyear ended March 31, 2024 and the Reports of the Board of Directors and the Auditors thereon; andnb. the audited consolidated financial statements of the Bank for the financial year ended March 31, 2024 and the Report of the Auditors thereon.MoreLess

  14 for0 against
• To appoint a director in the place of Ms. Shweta Jalan, who retires by rotation and being eligible, offers herself for re-appointment.

  14 for0 against
• To appoint M/s. CNK & Associates LLP, Chartered Accountants, as one of the Joint Statutory Auditors.

  ›Against Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual Fund, Zerodha Mutual Fund

  • Bandhan Mutual Fund, Groww Mutual Fund, LIC Mutual Fund, Motilal Oswal Mutual Fund, Nippon India Mutual FundNo concern on merit, competence, eligibility of appointees. Governance Concern: The period of shareholder approval exceeds the period of RBI approval. Concern arising due to inconsistency in legal provision.
  • Zerodha Mutual FundGovernance Concern: The period of shareholder approval exceeds the period of RBI approval. Concern arising due to inconsistency in legal provision.

  8 for6 against
• To approve material related party transactions with State Bank of India and material modification(s) thereto.

  14 for0 against
• To approve the revised remuneration of Mr. Prashant Kumar (DIN - 07562475), Managing Director and Chief Executive Officer.

  14 for0 against
• To approve the revised remuneration of Mr. Rajan Pental (DIN – 08432870) as an Executive Director of the Bank.

  14 for0 against
• To approve revision in ceiling of fixed remuneration to Non-Executive Directors (NEDs) of the Bank.

  14 for0 against
• To authorize capital raising through an issuance of debt instruments.

  3 for0 against
• To approve the ‘YBL Restricted Stock Units Plan 2024’.

  ›Against HDFC Mutual Fund

  • HDFC Mutual FundESOPs/RSUs are granted at a significant discount to market price

  13 for1 against

Mutual fund votes, meeting of 28 Mar 2024, 1 fund house

• 1) To consider and approve amendment to the Disclosure Document of Unsecured Redeemable Long Term Bonds in nature of Debentures bearing ISIN INE528G08279:

  1 for0 against

Mutual fund votes, meeting of 27 Mar 2024, 1 fund house

• Yes Bank Limited sought consent of Debenture holders through Postal Ballot by way of remote e-Voting only, for amendment to the Disclosure Document dated 16/02/2015 of Unsecured Redeemable Long Term Bonds in nature of Debentures.MoreLess

  1 for0 against