The Reserve Bank of India has approved Rana Kapoor’s continuation as Yes Bank’s MD and CEO, till further notice, the lender informed the exchanges.
“The bank has received the RBI’s approval that Shri Rana Kapoor may continue as Managing Director & CEO of Yes Bank till further notice from RBI,” the bank said in the regulatory filing.
Mr. Kapoor’s present term ends on Friday. In April, the board had approved his reappointment for 3 years, effective September 1, subject to regulatory approval. In June, shareholders had approved the proposal to reappoint Mr. Kapoor for 3 years.