INSUBCONTINENT EXCLUSIVE:
The RBI had allowed Rana Kapoor to continue as managing director and CEO of Yes Bank till further noticeYes Bank said on Wednesday that Rana
Kapoor received approval from the Reserve Bank of India (RBI) to continue as its CEO and managing director till January 31 next year
However, he had sought a three-year extension till August 31, 2021, according to a report by news agency Press Trust of India
The private sector bank, said in a filing to stock exchange BSE, that its board of directors would meet on September 25, 2018 to decide on
the "future course of action"
Mr Kapoor has served as the bank's chief executive officer since its inception in 2004
continue till further notice.Shares of Yes Bank closed 1.5 per cent lower at Rs 318.60 apiece on the NSE, ahead of the announcement of RBI
nod to Mr Kapoor.Mr Kapoor holds an MBA from Rutgers' University in New Jersey, United States (1980), and a Bachelor's degree in Economics
(Honours) from the University of Delhi (1977).Prior to establishing Yes Bank along with his brother-in-law Ashok Kapur, Rana Kapoor served
as 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 crore in April-June as against Rs
966 crore in the corresponding period a year ago, marking a year-on-year increase of 30.5 per cent
The profit was driven by higher interest income and growth in its corporate banking division
