GET Stock QuotesNews18 APP
News18 English
Powered by cricketnext logo
»
1-min read

Yes Bank Board to Recommend Names for New Chairman to RBI on December 13

In September, the RBI decided against any extension for Rana Kapoor to continue as MD and CEO beyond January 31, 2019 and asked the bank to find a replacement.

PTI

Updated:November 28, 2018, 3:31 PM IST
facebookTwittergoogleskypewhatsapp
Yes Bank Board to Recommend Names for New Chairman to RBI on December 13
Image for representation. (Photo Reuters)
Loading...
New Delhi: Yes Bank has said its board on December 13 will recommend names for new chairman to be approved by the RBI as well as consider appointment of independent directors.

The private sector lender, which is grappling with governance as well as NPA issues, has seen resignations of three independent directors, including Chairman Ashok Chawla.

In a regulatory filing, the bank said its Nomination & Renumeration Committee (N&RC) of the board and the board of directors are scheduled to meet on December 13.

During the meetings, they would consider proposals for appointment of independent directors and also recommend name(s) of the new chairman for approval of the RBI, it added.

Yes Bank also reiterated that it is on track to find a successor to MD and CEO Rana Kapoor and said the resignations of the three board members will have no impact on the succession plan.

Chairman Ashok Chawla, Vasant Gujarathi and Rentala Chandrashekhar have quit the bank on various reasons including on governance issues.
In the meantime, the bank inducted Uttam Prakash Agarwal in its board taking the current strength to seven members.

Yes Bank's Search & Selection Committee (SSC) and the N&RC are scheduled to meet on December 12 to discuss the final shortlist for new MD & CEO appointment.

In September, the RBI decided against any extension for Rana Kapoor to continue as MD and CEO beyond January 31, 2019 and asked the bank to find a replacement.

According to sources, the RBI did not want him to continue on the position due to under-reporting of bad loans as well as laxity in corporate governance.

Stock of Yes Bank was trading at Rs 162.55, down 11.25 per cent, on BSE.
Read full article
Loading...
Next Story
Next Story

Also Watch

facebookTwittergoogleskypewhatsapp
Most Active
Company Price Change %Gain
Reliance 1,136.40 0.58
Zee Entertain 462.70 -7.80
Yes Bank 179.00 -1.10
Sun Pharma 433.45 2.97
ICICI Bank 362.25 1.06
Company Price Change %Gain
ICICI Bank 362.35 1.22
HDFC 1,949.25 -0.51
Infosys 676.35 -2.48
Sun Pharma 433.10 2.98
Yes Bank 178.90 -1.21
Top Gainers
Company Price Change %Gain
Sun Pharma 433.45 2.97
Bajaj Finance 2,532.20 2.34
Power Grid Corp 196.35 1.97
M&M 770.95 1.93
JSW Steel 305.45 1.87
Company Price Change %Gain
Sun Pharma 433.10 2.98
Power Grid Corp 195.85 1.74
M&M 770.80 1.62
Vedanta 208.90 1.58
Asian Paints 1,354.45 1.47
Top Losers
Company Price Change %Gain
Zee Entertain 462.70 -7.80
UPL 743.65 -3.18
Infosys 676.60 -2.56
Tech Mahindra 709.00 -1.49
Wipro 335.05 -1.34
Company Price Change %Gain
Infosys 676.35 -2.48
Wipro 335.40 -1.29
Yes Bank 178.90 -1.21
ITC 278.00 -0.75
HUL 1,841.10 -0.56

Live TV

Loading...
Countdown To Elections Results
  • 01 d
  • 12 h
  • 38 m
  • 09 s
To Assembly Elections 2018 Results