Yes Bank, one of the leading private sector banks in India, recently revealed that it has been slapped with a demand notice by the income tax department for a whopping Rs 2,209 crore for the assessment year 2019-20. Despite the reassessment affirming the initial income evaluation with no alterations, the bank has been taken aback by this unforeseen demand, which includes interest charges. The demand notice has put Yes Bank in a challenging financial position, prompting concerns among investors and stakeholders. This development comes at a time when the banking sector in India is already grappling with various challenges, including the economic slowdown and the impact of the COVID-19 pandemic. Yes Bank’s management is expected to navigate through this situation diligently to safeguard the bank’s financial stability and reassure its customers. The news of this demand notice has sent shockwaves through the banking industry, and all eyes are now on Yes Bank’s next steps to address this significant financial setback.