Private sector lender Yes Bank on Thursday said its Board of Directors has finalised the recommendation for Non-Executive Part-Time Chairman position and will be soon seeking requisite approvals from the Reserve Bank of India. “The name of the candidate will be formally announced once the requisite approvals from RBI have been received,” said a person familiar with the development.
The Search & Selection Committee of the Bank has also short listed external and internal candidates, with whom it will engage over the next few days to finalise its recommendations. “The final recommendation will be submitted to the RBI by the Board of Directors post their next meeting scheduled on January 9, 2019,” Yes Bank said in a statement.
The bank’s Nomination and Remuneration Committee has also evaluated profiles for Additional Directors especially with Information Technology Expertise, to lead the Bank's IT Strategy Committee and will finalise the name soon. Yes Bank shares fell 6.61 per cent in intra-day trade on the BSE.