INSUBCONTINENT EXCLUSIVE:
Yes Bank's shareholders had approved re-appointment of Rana Kapoor as CEO for three years.Shares of private sector lender Yes Bank fell as
much as 7 per cent in early trade on Friday
At 12:06 pm, shares in the company were trading at 342.40 with a loss of 19.50 points or 5.39 per cent
The RBI announcement came just a day before Kapoor's current 3-year term was about to end, reported news agency Press Trust of India
Executive Officer (CEO) of the bank till further notice from the central bank
In June this year, Yes Bank's shareholders had approved the re-appointment of Rana Kapoor as the chief executive and managing director for
three years, subject to final approval from the Reserve Bank of India.The lender had sought permission from the RBI for the reappointment of
Kapoor for a period of three years starting September 2018 onward
Earlier this year, RBI denied a three-year extension to Axis Bank CEO Shikha Sharma despite board endorsing her reappointment.Meanwhile,
At 12:06 pm, the SP BSE Sensex slipped 58.66 points or 0.15 per cent to trade at 38,631.44
The broader Nifty50 tripped 13.50 points or 0.12 per cent to trade at 11,663.30.The Indian rupee collapsed to a fresh record low of 71
against the US dollar for the first time ever by slipping 26 paise today
