Important Update: Revision in Pledge Haircut & MTF Margin for YES Bank

Due to recent fluctuations in YES Bank’s stock price, the pledge haircut and Margin Trading Facility (MTF) margin requirements for YES Bank shares have been revised.

1. Revised Pledge Haircut – 40%
The haircut applicable to pledged YES Bank shares has been revised to 40%. This means only 60% of the market value of your pledged YES Bank shares will be considered for margin benefits.

Example: If you have pledged YES Bank shares worth ₹1,00,000, the eligible margin value will be ₹60,000 after applying the revised 40% haircut. What this means for you: Your available margin may be reduced. You may need to add funds or pledge additional eligible securities to meet your margin requirements.

2. Revised MTF Margin Requirement – 50%
The margin requirement for purchasing YES Bank shares under the Margin Trading Facility (MTF) has been revised to 50%. This means you will need to contribute 50% of the purchase value from your own funds, while the remaining amount can be funded through MTF, subject to applicable terms and conditions.

Example: If you purchase YES Bank shares worth ₹1,00,000 under MTF, you will need to maintain ₹50,000 as your margin contribution.

3. Impact on Existing MTF Positions
The revised margin requirement will also apply to your existing YES Bank MTF positions. As a result, your required margin may increase, and you may need to add funds to cover any shortfall.

We request to:

• Review your YES Bank holdings and pledged securities.
  
• Check your available margin and existing MTF positions.
  
• Add funds or provide additional eligible pledged securities, wherever required, to meet the revised margin requirements.
  
• Maintain sufficient margin to avoid any margin shortfall and related actions on your positions.
  

We encourage you to review your positions and take the necessary action promptly to ensure compliance with the revised margin requirements.