Friday 19 October 2018

YES Bank slips 4% after RBI rejects request to extend Rana Kapoor's term

The RBI said that a successor to Kapoor should be appointed by February 1, 2019. Kapoor's tenure was cut short by an order issued by the RBI recently.Shares of YES Bank dropped as much as 4.9 per cent in the opening deals on Friday after the Reserve Bank of India (RBI) on Wednesday once again rejected the lender’s request for extending the term of MD & CEO Rana Kapoor, and reaffirmed the February deadline for finding his successor.

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