MUMBAI: The Reserve Bank has refused to offer an extension to Yes Bank MD and CEO Rana Kapoor and requested the bank to appoint a new leader by means of February 1, 2019, the non-public lender said on Wednesday.
The Yes Bank board had sought at least a three-month extension for Kapoor from the RBI past 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," the lender said in a inventory exchange submitting.
The RBI had previous curtailed the three-year time period that the board had searched for Kapoor, additionally one of the crucial promoters of the bank, to January 31, 2019, and requested the bank to discover a alternative.
Yes Bank stocks dropped 6.85 in step with cent to near at Rs 231.75 apiece on BSE.
The Yes Bank board had sought at least a three-month extension for Kapoor from the RBI past 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," the lender said in a inventory exchange submitting.
The RBI had previous curtailed the three-year time period that the board had searched for Kapoor, additionally one of the crucial promoters of the bank, to January 31, 2019, and requested the bank to discover a alternative.
Yes Bank stocks dropped 6.85 in step with cent to near at Rs 231.75 apiece on BSE.
RBI tells Yes Bank to appoint new chief by Feb 1
![RBI tells Yes Bank to appoint new chief by Feb 1]()
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October 18, 2018
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