Financial market has been jolted on 5 March 2020 when the central government has put YES Bank Ltd., India’s fourth largest private bank, under moratorium, and the RBI has come out with a bailout package. The former CEO had extended loans in quid pro quo non-arrangement to the companies confronting financial turmoil. Theoretically, independent directors supposed to bring independent judgement about strategy and risk management which, for the bank, has been miserably failed and has extended loans without considering the borrowers’ ability of repayment. The audit committee has too failed to show its acumen and approved the management’s proposals.

到2020年3月5日，中央政府已将印度第四大私人银行YES Bank Ltd.置于暂停状态，而印度央行也出台了救助方案，金融市场因此受到了冲击。这位前首席执行官已经以无偿安排的方式向面临金融动荡的公司提供了贷款。从理论上讲，独立董事应该对战略和风险管理做出独立的判断，对银行而言，这已经严重失败了，并在不考虑借款人还款能力的情况下延长了贷款期限。审计委员会也未能表明自己的敏锐性，也没有批准管理层的建议。