Ajai Kumar takes over reigns of Yes Bank in absence of Ravneet Singh Gill

Yes Bank on Thursday announced the appointment of Ajai Kumar as its interim MD and CEO till Ravneet Singh Gill assumes office. Kumar's appointment comes after the co-founder and former MD and CEO, Rana Kapoor, demitted office on Thursday. Kumar has been the Non-Executive Non-Independent Director of Yes Bank since 2016, the bank said in a statement.

"Yes Bank is pleased to share that Reserve Bank of India (RBI) has vide its letter dated January 30, 2019, received on January 31, 2019, approved the appointment of Ajai Kumar as interim MD and CEO of the bank from February 1, 2019, for one month or till Ravneet Gill assumes office as MD and CEO, whichever is earlier," it said. Gill's appointment as the next full-fledged MD and CEO was announced on January 24 and he will assume office on March 1.