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HomeNewsBFSIFollowing RBI clearance, Yes Bank names Prashant Kumar as MD and CEO

Following RBI clearance, Yes Bank names Prashant Kumar as MD and CEO

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The Yes Bank alternate Board recommended to the RBI for its approval, the appointment of Kumar as MD & CEO of the Bank for a period of three years.

Google News

In a top level administrative go ahead, the has cleared the appointment of Prashant Kumar as MD and CEO of for three years with effect from October 6, 2022.

In July the alternate Board of the private sector bank recommended to the Reserve Bank of India for its approval, the appointment of Kumar as Managing Director & Chief Executive Officer (MD &CEO) of the Bank for a period of three years.

“We would like to inform that RBI vide its letter dated October 6, 2022, has approved the appointment of Prashant Kumar as the MD & CEO of the Bank for a period of three years effective from today i.e. October 6, 2022,” Yes Bank said in a regulatory filing on Thursday.

Kumar's appointment is subject to approval of shareholders. Kumar was appointed as Managing Director & Chief Executive Officer of Yes Bank post the Reconstruction in March 2020.

Under his leadership, the bank embarked on transformation journey to emerge as a re-energized, re-capitalized and recalibrated organization, while continuing to fulfil its unwavering commitment towards its customers and stakeholders, the bank said.

“This has been one of the rare instances, where an Indian banking institution has been a real turnaround from the brink of collapse within an extremely short time frame of just one year,” it said further.

Prior to joining Yes Bank, Kumar was Deputy Managing Director & CFO of India's largest bank SBI, where he served in various capacities.

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Tech Observer Desk
Tech Observer Desk at TechObserver.in is a team of technology reporters led by a senior editor who brings latest updates and developments from the world of technology.
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