RBI to Yes Bank: Name Kapoor successor by Feb 1

MUMBAI:

Effectively rejecting

Yes Bank’s request to extend MD and CEO Rana Kapoor’s tenure, the RBI directed the bank to appoint his successor by February 1, 2019. “The Reserve Bank of India has reaffirmed that a successor to Rana Kapoor should be appointed by February 1, 2019,” the private sector lender said in a statement on Wednesday.