Comments
Yes Bank Ltd falls as much as 5.4 per cent to Rs 219.40, among the top per cent losers on the NSE index after RBI denied extension to CEO Rana Kapoor.
The Reserve Bank of India directed the private-sector lender to appoint a successor to CEO Rana Kapoor by Feb 1, 2019, denying the bank's request to extend Kapoor's term. Last month, RBI said Kapoor can only stay in his job until Jan 31, without specifying a reason, even though Yes Bank's shareholders had agreed to extend his term for 3 years.
Yes Bank had then asked for RBI's approval to extend Kapoor's term beyond Jan to allow more time to find a replacement. The bank aims to complete the recruitment process by mid-December, it said on Wednesday.
As of last close, stock had lost 26.4 per cent this year.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.