With Kapoor set to exit, the bank needs to finalise a new chief executive by January 31, when Kapoor’s term ends. Before that, the ‘Indian Partners’ of the bank, which includes the family of late Ashok Kapur, will also need to come to an agreement as nomination rights rest jointly with the two families.
Yes bank shares gained 3 percent in morning on Friday after a media report suggested that Brahm Dutt could be a part-time Non-executive chairman of the lender.
The banking regulator rejected Rana Kapoor’s request to extend his tenure as managing director and chief executive for three years.
Rana Kapoor wants to be the MD of Yes Bank after his tenure gets over.
Rana Kapoor has recently, being the one of the promoters, paid Rs 400 crores to two mutual funds.
Yes Bank’s compliance team has written to the board and the RBI, informing them that Kapoor has agreed to pay back the bonus received for these years.