Money & Banking

RBI tells Yes Bank to get new chief by Feb 1, refuses extension to Kapoor

Our Bureau Mumbai | Updated on October 17, 2018 Published on October 17, 2018

Rana Kapoor, Managing Director and CEO, YES Bank

The Reserve Bank of India wants the successor for Yes Bank Managing Director and CEO Rana Kapoor to be appointed by February 1, 2019.

“The Reserve Bank of India has reaffirmed that a successor to Shri Rana Kapoor, MD & CEO, YES BANK should be appointed by February 1, 2019,” the private sector lender said in a regulatory filing on Wednesday.

Earlier, the Bank’s Board of Directors had decided to request an extension for Kapoor from the RBI for atleast three months. The RBI had trimmed Kapoor’s term and asked him to step down by January 31, 2019.

Yes Bank script fell 6.85 per cent on the Bombay Stock Exchange and closed at Rs 231.75 apiece.

Published on October 17, 2018
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