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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.
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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.