YES Bank to appoint 3 senior executives on board

Monga, Palve and Mondal will become whole-time directors

YES Bank today said it will appoint three of its top management executives on the board subject to approval from the Reserve Bank of India (RBI). The bank, however, continues to maintain silence over appointment of Shagun Kapur Gogia, daughter of deceased co-founder Ashok Kapur, on its board.

In the board meeting on Thursday, the bank decided to induct Rajat Monga (senior group president for financial markets and chief financial officer), Sanjay Palve (senior group president and senior managing director for corporate finance) and Pralay Mondal (senior group president for branch, retail and business banking) as whole-time directors.

 

"This is to further build and strengthen the institutional and professional character of YES Bank as the 'Professionals Bank of India'. Their appointment will take effect upon approval of RBI, and will be subject to approval of the shareholders," YES Bank said in a statement.

The bank's board met yesterday after the Bombay High Court directed it to advance the board meeting by almost a month and consider Gogia's appointment.

 

"As the matter is sub judice, the final decision of the board on the subject will be submitted to the court at its scheduled hearing on July 1 as per the court order," the bank said in a statement early Thursday morning.