Reserve Bank of India has reaffirmed Yes Bank to appoint a new Chief Executive Officer for the company by February 01, 2019. The RBI on Wednesday directed the private sector lender bank to look for a successor and get the appointment procedure done by February next year.
The private sector lender’s appointed committee is targeting to complete the recruitment process latest by mid-December 2018, it added.
Earlier, Yes Bank had said that it would seek the central bank’s approval to extend Kapoor’s term beyond January since it needed more time to identify and groom a successor. The Reserve Bank of India had cut short Rana Kapoor’s term despite shareholders approval to extend it for three more years.