Both benchmark indices - Sensex and Nifty - recorded their third straight weekly gains by rising 298.61 points and 97 points, respectively.

Madhavan's exit before the set tenure appears to be in line of the RBI's increased scrutiny of CEOs in the private banks and board members.

The RBI appears to have tweaked its norms for appointment of bank chiefs, opting to play safe given the state of the banking sector. The regulator yesterday approved the appointment of Sandeep Bakhshi as ICICI Bank's Managing Director and Chief Executive Officer for just three years against the five-year term sought by the lender.

The government has brought in a new board to rescue crisis-ridden IL&FS. What can it do quickly to prevent further damage?

The Sensex opened on a strong note at 36,274.25 but soon fell on concerns surrounding the NBFC space and the commercial paper market.

Kapoor said his holding will be bequeathed to his three daughters and added that he will make a request in his will not to sell a single share in the bank.

The Yes Bank board on Tuesday decided to seek at least a three-month extension for Rana Kapoor, managing director and chief executive, from RBI beyond January 31, 2019.

Rana Kapoor, who co-founded the bank with Ashok Kapoor in 2004, established the private bank's credentials and led it to rise above expectations. Its shares have seen a 25-fold rise in the past 13 years and have generated compound annual growth return of around 28 per cent.

In June this year, Yes Bank shareholders had approved Kapoor's re-appointment as the MD and CEO of the bank, subject to RBI's approval.

The Reserve Bank of India nod to appointing Amitabh Chaudhary as the next MD and CEO of Axis Bank, after Shikha Sharma had to opt for a hasty exit, comes with a clear underlying message.

Gender diversity is missing in large areas of the financial services industry. There is no easy way out.

Axis Bank has been in news for all the wrong reasons in the last one year from deteriorating asset quality, leak of financial results, non-compliance with its asset classification norms, to falling stock price.

The stock rose to its 52-week high level of 675.70 in early morning trade rising more than 4.63% in early morning trade. The stock has been gaining for the last three days and has risen 5.51% during the period.

Chaudhry, who resigned from the post of MD and CEO of HDFC Standard Life Insurance Company on Saturday, has been appointed as MD and CEO for a period of 3 years, with effect from January 1, 2019 up to December 31, 2021.