The Reserve Bank of India (RBI) has allowed Rana Kapoor to continue as Yes Bank MD and CEO till January 31, 2019, the bank said on Wednesday in a regulatory filing.
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 RBI.
His present term ended on August 31. However, the RBI had allowed him to continue till further notice.
“Reserve Bank of India has vide letter dated September 17, 2018 received today, intimated that Shri Rana Kapoor may continue as the MD & CEO till 31 January 2019, and the Board of Directors of the Bank are scheduled to meet on September 25, 2018 to decide on the future course of action,” the bank said.