YES Bank Faces ₹2,209.17 Crore Tax Demand, Plans to Contest, 29 March 2025

YES Bank has received a reassessment order from the Income Tax Department for the assessment year 2019-20, raising a tax demand of ₹2,209.17 crore, including interest. The bank asserts that the reassessment made no new disallowances or additions, making the demand baseless. YES Bank plans to challenge the order through appeal and rectification proceedings, emphasizing that it does not expect any material impact on its financials or operations.