Yes Bank secures RBI approval for MSKA & Associates as auditor for FY 2026-27

1 min read Updated on 15 Jun 2026, 05:12 PM

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Riya DScanX News Team

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Yes Bank has secured RBI approval to appoint M/s. MSKA & Associates LLP as a Joint Statutory Auditor for FY 2026-27, replacing M/s. G. M. Kapadia & Co. following mandatory rotation. The appointment, recommended by the Board on April 18, 2026, is subject to shareholder approval and covers a three-year term ending FY 2028-29. Additionally, M/s. CNK & Associates LLP has been re-appointed for their third year.

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Yes Bank has received approval from the Reserve Bank of India (RBI) to appoint M/s. MSKA & Associates LLP as a Joint Statutory Auditor for the financial year 2026-27. The appointment, communicated via an RBI letter dated June 12, 2026, is subject to shareholder approval at the ensuing Annual General Meeting. This change follows the rotation of the existing auditor, M/s. G. M. Kapadia & Co., in accordance with RBI guidelines.

The Board of Directors of Yes Bank, in its meeting held on April 18, 2026, had recommended the appointment based on the Audit Committee's advice. The RBI has also approved the re-appointment of M/s. CNK & Associates LLP as Joint Statutory Auditors for their third year in FY 2026-27. The disclosures were made under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

M/s. MSKA & Associates LLP, established in 1978, is a registered Chartered Accountancy firm with the Institute of Chartered Accountants of India (ICAI). The firm, headquartered in Mumbai, operates across 15 key cities including Gurugram, Kolkata, and Bengaluru. Its service offerings include Audit & Assurance and Taxation & Accounting Advisory, with significant experience in auditing financial services clients and large banks.

The term for the new joint statutory auditor is for a period of three years, effective from FY 2026-27 till and including FY 2028-29, pending the necessary regulatory and shareholder approvals. The firm registration number for M/s. MSKA & Associates LLP is 105047W/W101187.

Auditor Appointment Details

Particulars	Details
New Auditor	M/s. MSKA & Associates LLP
Reason for Change	Rotation of M/s. G. M. Kapadia & Co. per RBI guidelines
RBI Approval Date	June 12, 2026
Term	FY 2026-27 to FY 2028-29
Re-appointed Auditor	M/s. CNK & Associates LLP (3rd year)

Historical Stock Returns for Yes Bank

1 Day	5 Days	1 Month	6 Months	1 Year	5 Years
+3.30%	+2.06%	+7.80%	+8.49%	+16.45%	+68.65%

How will the transition to M/s. MSKA & Associates LLP impact Yes Bank's audit quality and financial reporting timelines?

What are the potential cost implications for Yes Bank associated with engaging a large, multi-city firm like MSKA & Associates?

Could this auditor change signal a shift in Yes Bank's internal risk management strategies or compliance focus?

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Yes Bank confirms Rs 63.27 crore GST demand in appeal order

1 min read Updated on 08 Jun 2026, 06:48 PM

Reviewed by

Suketu GScanX News Team

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Yes Bank has received an Order-in-Appeal from the Maharashtra GST department confirming a total tax demand of Rs 63,26,98,888 including penalty for the period July 2017 to June 2018. The order, passed on June 05, 2026, upholds the earlier demand without creating any new liability. The bank stated it does not expect a material impact and intends to file an appeal.

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Yes Bank has received an Order-in-Appeal from the Maharashtra GST department confirming a total tax demand of Rs 63,26,98,888 including penalty for the period July 2017 to June 2018. The order, passed by the Commissioner (Appeals) on June 05, 2026, under Section 107(11) of the Central Goods and Services Tax Act, 2017, upholds the earlier demand without creating any new liability. The bank stated that it does not expect the order to have a material impact on its financial or operational activities and intends to file an appeal against the decision.

The intimation was submitted to the exchanges under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank clarified that this order serves as an update to a previous intimation made on November 23, 2024, regarding the Order-in-Original passed by the Joint Commissioner, CGST. The latest order confirms the demand raised in the original proceedings, maintaining the total financial implication at the same level.

According to the details provided in the filing, the total demand comprises a tax component of Rs. 31,63,49,444 and an equal penalty amount of Rs. 31,63,49,444. The aggregate figure of Rs. 63,26,98,888 includes applicable interest along with the penalty. The bank asserted that it possesses adequate factual and legal grounds to substantiate its position and will pursue necessary legal remedies within the prescribed timelines.

The disclosure was made by Sanjay Abhyankar, Company Secretary, on behalf of Yes Bank. The bank has hosted the weblink of the information provided to BSE Limited and National Stock Exchange of India Limited on its website. The filing references the SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026, regarding the disclosure requirements.