The Reserve Bank of India (RBI) has allowed Rana Kapoor to continue as the Managing Director and Chief Executive Officer of Yes Bank till January end.
Kapoor can continue to hold his current position at the private lender until further notice from the regulator. His present regime ended on August 31.
Yes Bank’s shareholders had agreed on 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. The decision was taken in June this year.
“Reserve Bank of India has vide 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.