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The Reserve Bank of India has approved the appointment of Brahm Dutt as non-executive part time Chairman of the board of private sector lender Yes Bank.
“The RBI, pursuant to the provisions of the Banking Regulation Act, 1949, and basis Brahm Dutt’s outstanding credentials and experience, has approved his appointment as Part-Time Chairman of Yess Bank’s Board up till July 4, 2020 through its letter dated January 11, 2019,” the private sector lender said on Saturday.
The appointment is till July 2020 as Dutt will then attain the age of 70 years.
Dutt has been on the Board of Yes Bank since July 2013 as an Independent Director. He is a former IAS officer and was Secretary in the Cabinet Secretariat and in the Ministry of Road Transport & Highways.
The Yes Bank board had on December 13 finalised the recommendation for the Chairman and submitted it to the RBI for approval after its earlier Chairman Ashok Chawla resigned.
With the appointment of Dutt, Yes Bank’s board now consists of Dutt as the Chairman, independent directors –Mukesh Sabharwal, Uttam Prakash Agarwal, TS Vijayan and Pratima Sheorey, non-independent directors Subhash Kalia and Ajay Kumar and Rana Kapoor, Managing Director and CEO.
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