YES Bank, one of the leading private sector lender, announced that the Reserve Bank of India (RBI) has approved the appointment of Manish Jain as Executive Director (Whole-Time Director) for a period of three years. Jain’s tenure will commence on December 11, 2024, and continue until December 10, 2027.
The bank confirmed the development in a regulatory filing, stating, “…we would like to update you that RBI vide its letter dated December 11, 2024, has approved, the appointment of Manish Jain as Executive Director (i.e., Whole Time Director) of the Bank under Section 35B of The Banking Regulation Act, 1949 for a period of 3 (three) years from the date of taking charge as Executive Director i.e. December 11, 2024, till December 10, 2027.”
This approval follows a resolution by the board of directors at YES Bank, which had earlier appointed Jain as an additional director and executive director, subject to RBI clearance. The appointment will become fully effective upon shareholder approval.
Jain, who joined YES Bank in September 2023, currently oversees its corporate and wholesale banking business. Before his new designation, he served as the Country Head of Wholesale Banking, where he played a critical role in driving the bank’s strategic initiatives in large corporate, government, and financial institution sectors.
With a career spanning over three decades, Jain brings extensive experience in banking and finance, including 23 years at Standard Chartered Bank. He holds a postgraduate diploma in management from IIM Bangalore and a B.Tech in mechanical engineering from IIT Delhi.
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At YES Bank, Jain will continue to lead key verticals, including corporate and wholesale banking, project finance, loan syndication, government and financial advisory, food and agri strategic advisory, and transaction banking, among others.
His appointment is expected to bolster YES Bank’s leadership team and further its growth strategy in the corporate banking domain.
