Yes Bank Gets Tax Demand Notice From Maharashtra GST Department

Yes Bank Ltd. has received a demand notice of Rs 63 crore for the period July 2017- June 2018  from the Maharashtra's Goods and Services Tax (GST) department, according to an exchange filing on Saturday.

''The total demand including penalty is Rs. 63,26,98,888 in relation to the GST matter,'' the filing stated, adding that the bank will take appropriate steps, including contesting the order through appeal within the prescribed timelines. Notably, the violation involved a GST demand along with levy of penalty and applicable interest. 

Additionally, it said that the Bank believes that it has adequate factual and legal grounds to reasonably substantiate its position in this matter and at this juncture it "does not expect any material impact on financial, operation or other activities due to the said order."

 ''The Bank will take necessary legal remedy against the said order including filing an appeal,'' it added.

Yes Bank Q4FY26 Recap

Yes Bank reported a jump of 44% in standalone net profit to Rs 1,068.4 crore, compared to Rs 738 crore in the corresponding period last year. Higher loan growth and declining provisions helped the surge in net profit during the March quarter of FY26.

The leading private lender's performance was helped by broad-based growth across advances and deposits and lower cost of deposits, according to Vinay Tonse, Yes Bank's newly appointed chief executive. Loans grew 10.7% year-on-year during the quarter, accelerating from about 6.2% growth in the previous quarter, helped by a pickup in corporate lending, while deposits rose 12.1%.

The bank's net interest income, or the difference between interest earned on advances and paid on deposits, rose 15.9% to Rs 2,638 crore in the fourth quarter of FY26, compared to Rs 2,276 crore in the fourth quarter of FY25.

Yes Bank Share Price

Shares ended 2.3% higher at Rs 23.30 apiece on the NSE on Friday, compared to a 0.21% decline in the Nifty index. 

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"Didn't Get Fair Chance": Gambhir Confirms India Star's Return To Test XI

India head coach Gautam Gambhir on Friday said Sai Sudharsan has not got a fair run at the No.3 slot and indicated that the left-hander will be preferred over Devdutt Padikkal in the Test format ahead of the one-off game against Afghanistan. Gambhir also stated that the team will prepare four spinners for the tour of Sri Lanka in August. India will take on Afghanistan in a one-off Test starting here on Saturday which is not a part of the current World Test Championship cycle, in which the home side is currently placed sixth.

"Sai Sudharsan has not got a fair chance. He played mostly in England and I believe he needs to get a fair chance," Gambhir told the reporters.

"We can (only) pick 11 (players) and Sai isn't in bad form. He scored 700 runs in IPL. If we judge Sai on basis of 4-5 games we will never be able to build something," he added.

With Manav Suthar and Harsh Dubey are aiming for one spot as a left-arm spinner, Gambhir said India will need to prepare multiple spin bowling options for the two-Test series in Sri Lanka.

"Manav and Harsh are to a certain extent similar but different also in terms of release points. This match gives us a chance to determine our fourth spinner as we will take four spinners in Sri Lanka," he said.

"We will need to prepare differently when we go to New Zealand. So, we will pull out a few ODI regulars who play Tests. We understand we need to prepare better for Tests," Gambhir added.

Addressing Rishabh Pant's removal as Test vice-captain, Gambhir said the batter has his backing but needs to read the game situation better.

"We don't want Rishabh Pant to change but international cricket demands players to respect match situations," Gambhir said.

(Except for the headline, this story has not been edited by NDTV staff and is published from a syndicated feed.)

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