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The RBI had authorized Rana Kapoor to continue as CEO and CEO of Yes Bank until further notice
Yes Bank said Wednesday that Rana Kapoor had received approval from the Reserve Bank of India (RBI) to continue to be its CEO and CEO until January 31 of next year. However, he had requested a three-year extension until August 31, 2021, according to a report by the Press Trust of India news agency. The private sector bank, in a deposit on the BSE stock exchange, that its board of directors would meet on September 25, 2018 to decide the "way forward". Mr. Kapoor has been Chief Executive Officer of the Bank since its inception in 2004. Yes Bank's shareholders voted last June to reappoint Mr. Kapoor as CEO and Managing Director for three years, subject to approval by the Board. final approval of the central bank.
At the end of his current three-year term in August, the Reserve Bank of India allowed him to continue until further notice.
Yes Bank shares fell by 1.5% to Rs. 318.60 each on the NSE before RBI's announcement.
Mr. Kapoor holds an MBA from Rutgers University of New Jersey (United States of America) (1980) and a bachelor's degree in economics (with honors) from the University of New Jersey. University of Delhi (1977).
Before creating Yes Bank with his brother-in-law Ashok Kapur, Rana Kapoor was CEO and Managing Director of Rabo India Finance (RIF) and spent 15 years at Bank of America (1980-1995).
Yes Bank reported a net profit of Rs. 1,260,000,000 in April-June compared to Rs. 966 crore during the corresponding period a year ago, marking an annual increase of 30.5%. Earnings were boosted by higher interest income and growth in the Corporate Banking division. (With agency contributions)
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