YES Bank names Brahm Dutt as its new non-executive chairman

Yes Bank

YES BankThe Reserve Bank of India (RBI) has cleared the appointment of Brahm Dutt as the new non-executive 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 YES Bank’s Board up till July 4, 2020 through  its letter dated January 11, 2019,” said the bank  in its official statement.

The appointment is valid till July 2020 as Dutt will attain 70 years of age by then.

He has been associated with the Board of the bank as an Independent since July 2013. He is a former bureaucrat (IAS) and was earlier appointed at the Ministry of Road Transport & Highways. He was also a Secretary in the Cabinet Secretariat.

On December 13 after the resignation of Chairman Ashok Chawla, the bank’s board had finalised the recommendation for the Chairman and suggested it to the RBI for approval.

With Dutt’s appointment, the bank’s board now comprises of Uttam Prakash Agarwal, Mukesh Sabharwal, TS Vijayan and Pratima Sheorey non-independent directors Rana Kapoor, Managing Director and CEO, Ajay Kumar and Rana Kapoor.

"Exciting news! Elets Banking & Finance Post is now on WhatsApp Channels Subscribe today by clicking the link and stay updated with the latest insights!" Click here!

Elets The Banking and Finance Post Magazine has carved out a niche for itself in the crowded market with exclusive & unique content. Get in-depth insights on trend-setting innovations & transformation in the BFSI sector. Best offers for Print + Digital issues! Subscribe here➔ www.eletsonline.com/subscription/

Get a chance to meet the Who's who of the Banking & Finance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.