Private lender Yes Bank has proposed the name of its board member Brahm Dutt for the position of Chairman.
“The bank has recommended Dutt’s name to the Reserve Bank for the Chairman post,” said sources.
Sources suggest that, since Dutt is already a part of the bank’s board, he is aware of several aspects pertaining to the bank and its system. It would, therefore, be good to appoint him as the Chairman.
Dutt is a retired bureaucrat and currently appointed as the independent director of the bank’s board. The board comprises of eight members.
The other members of the board are Rana Kapoor (Managing Director and Chief Executive Officer), Subhash Kalia, Lt General Mukesh Sabharwal, Ajai Kumar, Uttam Agarwal, Pratima Sheorey and TS Vijayan.
TS Vijayan, former Chief of Irdai and LIC and Uttam Agarwal (Chartered Accountant with expertise in taxation) are recently inducted into the bank’s board.
In addition, the bank has also shared several names with the Reserve Bank of India for MD&CEO post, as the current MD and CEO Rana Kapoor is denied any further extension beyond January 31, 2019.