[8] In 1997–98, three Mumbai-based bankers–Rana Kapoor, Ashok Kapur and Harkirat Singh–co-founded Rabo India Finance in partnership with Rabobank of the Netherlands.

[9] In early 2003, the three bankers started Yes Bank with proceeds from selling their stakes in Rabo India Finance.

[10] Harkirat Singh resigned in April 2003 citing concerns over Rabobank's influence in appointing a leader for Yes Bank.

[15][16] In November 2008, co-founder and non-executive chairman Ashok Kapur was killed at the Trident Hotel during the 26/11 terrorist attacks in Mumbai.

[17] In September 2016, Yes Bank scrapped its proposed $1 billion share sale due to market conditions.

[18][19] The company subsequently attempted to relaunch its failed capital raising exercise after appointing a new set of bankers.

This had resulted in potential loan losses, which in turn led to downgrades and prompted investors to invoke bond covenants, and a withdrawal of deposits by customers.

[40] On 3 November 2017, Yes Bank signed a MoU with the government to provide ₹1,000 crore (equivalent to ₹14 billion or US$160 million in 2023) financing for food processing projects.

[51][52][53] During the moratorium period, Yes Bank customers could withdraw only up to ₹50,000 (US$674.77) from their accounts for the following one month, except in certain situations like medical treatment, emergencies, higher education costs and obligatory expenses for ceremonies such as weddings (subject to RBI's approval).

[55][56][57] RBI governor Shaktikanta Das stated that the matter would be resolved swiftly; Ministry of Finance under Finance Minister, Nirmala Sitharaman announced a proposed turnaround plan under which the State Bank of India would take a 49% stake in Yes Bank and introduce a new board.

[60] During this reconstruction, seven investors infused ₹12,000 crore (US$1.62 billion) in Yes Bank, and Prashant Kumar was proposed as it new CEO.