Yes Bank gets time till Jan 2019 to change MD and CEO
- Country:
- India
The Reserve Bank has allowed Rana Kapoor to continue as Yes Bank MD and CEO till January 31, 2019, the bank said Wednesday in a regulatory filing.
In June this year, Yes Bank's shareholders had approved the re-appointment of Rana Kapoor as the chief executive and managing director for three years, subject to final approval from the Reserve Bank of India.
His present term ended on August 31. However, the RBI had allowed him to continue till further notice.
"Reserve Bank of India has vided letter dated September 17, 2018, received today, intimated that Shri Rana Kapoor may continue as the MD & CEO till 31 January 2019, and the Board of Directors of the Bank are scheduled to meet on September 25, 2018, to decide on the future course of action," the bank said.
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