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Rana Kapoor to remain Yes Bank CEO till further notice; RBI mum on 3-year extension

The Reserve Bank of India has deferred a decision to approve another three-year term to Yes Bank’s MD and CEO Rana Kapoor, while allowing him to continue in his position till further notice. The announcement added to the speculation surrounding Kapoor’s position in the bank and consequently, the lender's shares ended 5% down on Friday. In June, Yes Bank’s shareholders had approved a fresh three-year term for Kapoor as MD & CEO. However, the central bank not only took a long time to give it’s mandatory nod, which increased speculation over his position, but, when it did, it wasn’t for the three year term that the bank was seeking. RBI's stringent take on NPA reporting  Though neither the bank nor the RBI offered any explanation on the matter, media reports suggest that the sharp rise in the private sector lender’s…

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