Indian Banking Industry News, Banking Industry, Banking Analysis, Banking Sector, Banking Companies in India
Business Today
Yes Bank to seek extension for Rana Kapoor, appoints search panel

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.

 
 
The consolidation would enable creation of a bank with business scale comparable to global banks and capable of competing effectively in the country and globally.
In FY 2012, the bank had, by allegedly flouting its own lending norms, extended a Rs 3,250 crore loan to the Videocon group, which has since turned dud for the bank.
Global brokerage Jefferies referred to Bank of Baroda as the base, Vijaya Bank the kicker and Dena Bank as 'bad bank'.
 
 
In this regard, the Centre has begun consultations with states as they are one of the sponsors of the regional rural banks (RRBs) in the country
Out of the 10 appointments, 5 are from the country's biggest lender, State Bank of India.
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 merger of Dena Bank and Vijaya Bank with Bank of Baroda will create new challenges for the amalgamated bank.
Advertisement