 "YES Bank claws back Rs 1.44-crore performance bonus of ex-MD Rana Kapoor")
YES Bank retracted the performance bonus of Rs 1.44 crore of former Managing Director and Chief Executive Officer Rana Kapoor, whose term was cut short by the Reserve Bank of India (RBI) in October last year.
“The board of directors of the bank had considered and approved clawback of 100 per cent of the performance bonus paid to Mr. Rana Kapoor for FY 2014-15 (FY15) and FY16, net of taxes. The amount of bonus subject to clawback was Rs 6.2 million for FY15 and Rs 8.25 million for FY16,” said the bank in its annual report on Thursday.
YES Bank added that
