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Business News » India News

RBI reaffirms decision on tenure of Yes Bank's Rana Kapoor

The Reserve Bank of India (RBI) has reaffirmed that a successor to YES BANK`s MD and CEO Rana Kapoor should be appointed by February 1, 2019.

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RBI reaffirms decision on tenure of Yes Bank's Rana Kapoor
In June, the bank`s shareholders had approved extension of Kapoor`s tenure for three years starting September 2018, subject to final approval from the RBI. Photo: DNA
Written By: IANS
Updated: Thu, Oct 18, 2018
01:02 pm
IANS
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YES Bank stock! Expert suggests Rs 17-18 target price for this lender YES Bank stock! Expert suggests Rs 17-18 target price for this lender
Yes Bank share price today: Expert says that immediate support is at Rs 13.70 while resistance is at Rs 15.30 levels Yes Bank share price today: Expert says that immediate support is at Rs 13.70 while resistance is at Rs 15.30 levels
Yes Bank Share price can multiply 2x to 3x over this period, says expert Yes Bank Share price can multiply 2x to 3x over this period, says expert
This expert give Yes Bank price target of Rs 20.4 and pegs BREAKOUT at above Rs 16.5 This expert give Yes Bank price target of Rs 20.4 and pegs BREAKOUT at above Rs 16.5

Mumbai: The Reserve Bank of India (RBI) has reaffirmed that a successor to YES BANK`s MD and CEO Rana Kapoor should be appointed by February 1, 2019. The private lender had earlier said it will request RBI to extend Kapoor`s tenure up to minimum of April 30, 2019.

According to a company`s filing on Wednesday, Kapoor will be fully guided by its Board of Directors, the RBI and other relevant stakeholders. The company has constituted a "Search and Selection Committee" to evaluate both internal and external candidates and make suitable recommendations to the Board of Directors within stipulated timelines for RBI` s final approval.

"The bank`s appointed committee is targeting to complete this recruitment process latest by mid December 2018," the private lender said in a regulatory filing on Wednesday. Last month, RBI had rejected the bank`s request to extend Rana Kapoor`s tenure for three years and said he could continue until January 31, 2019.

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In June, the bank`s shareholders had approved extension of Kapoor`s tenure for three years starting September 2018, subject to final approval from the RBI.

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TAGS:
Yes BankYes Bank chief Rana KapoorReserve Bank of India (RBI)
RELATED NEWS
YES Bank stock! Expert suggests Rs 17-18 target price for this lender YES Bank stock! Expert suggests Rs 17-18 target price for this lender
Yes Bank share price today: Expert says that immediate support is at Rs 13.70 while resistance is at Rs 15.30 levels Yes Bank share price today: Expert says that immediate support is at Rs 13.70 while resistance is at Rs 15.30 levels
Yes Bank Share price can multiply 2x to 3x over this period, says expert Yes Bank Share price can multiply 2x to 3x over this period, says expert
This expert give Yes Bank price target of Rs 20.4 and pegs BREAKOUT at above Rs 16.5 This expert give Yes Bank price target of Rs 20.4 and pegs BREAKOUT at above Rs 16.5
Yes Bank Share Price Prediction: Experts predict BOUNCEBACK! Important levels that you must know Yes Bank Share Price Prediction: Experts predict BOUNCEBACK! Important levels that you must know

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