RBI APPOINTS R GANDHI ON BOARD OF YES BANK FOR 2 YEARS

Hindustan Times (Patiala) - - Business -

Yes Bank on Mon­day said that Re­serve Bank of In­dia (RBI) has ap­pointed for­mer deputy gover­nor R Gandhi as an ad­di­tional direc­tor on the board of the bank for a pe­riod of two years. In a no­tice to the stock ex­changes, pri­vate sec­tor lender said that the ap­point­ment will be ef­fec­tive from May 14, 2019 to 13 May 2021. Yes Bank also said that the ap­point­ment has been made un­der sub-sec­tion (1) of Sec­tion 36 AB of the Bank­ing Reg­u­la­tion Act, 1949. Ac­cord­ing to the par­tic­u­lar sec­tion, RBI can ap­point ad­di­tional di­rec­tors “if the Re­serve Bank is of 2 [opin­ion that in the in­ter­est of bank­ing pol­icy or in the pub­lic in­ter­est or] in the in­ter­ests of the bank­ing com­pany or its de­pos­i­tors it is nec­es­sary so to do, it may, from time to time by order in writ­ing, ap­point, with ef­fect from such date as may be spec­i­fied in the order, one or more per­sons to hold of­fice as ad­di­tional Di­rec­tors of the bank­ing com­pany.”

MINT FILE

For­mer RBI deputy gover­nor R Gandhi.

Newspapers in English

Newspapers from India

© PressReader. All rights reserved.