RBI directs YES Bank to appoint new chief by Feb 1, no extension for Rana Kapoor


The Reserve Bank of India (RBI) has refused to grant any further extension to YES Bank Managing Director and Chief Executive Officer Rana Kapoor and asked the lender to name a new chief by February 1, 2019, informed the bank on Wednesday.

rana_kapoorThe private lender had requested the regulatory body to provide at least a three-month extension for Kapoor beyond January 31, 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,” said the lender in a stock exchange filing.

The RBI had earlier cut-short Rana’s three-year term that the board had sought, to January 31, 2019, and asked the bank to look for a replacement.


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