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Rana Kapoor has received Reserve Bank of India approval for his re-apportionment as MD and CEO of the bank for 3 years. This will be effective from September 1, 2015 to August-end 2018.
“…Pursuant to the approval of the Board of Directors and Shareholders at the 11th AGM held on June 6 2015, YES Bank has received approval from the Reserve Bank of India for re-appointment of Rana Kapoor as MD & CEO for a period of three (3) years...,” the bank said in a statement.
Last year, the banking regulator increased the upper age limit for MD & CEO and other WTDs of banks in the private sector to 70 years as against 65 years in the past.
Madhu Kapur, YES Bank’s second largest shareholder, had objected to the re-appointment of Rana Kapoor as well as two independent directors – MR Srinivasan and Diwan Arun Nanda – as she claimed she was not consulted.
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