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Ashok Chawla steps down as non-executive chairman of YES Bank

Ashok Chawla continues to be a director on the boards of the National Stock Exchange and Jet Airways

Nikhat Hetavkar  |  Mumbai 

Ashok Chawla
Ashok Chawla

Two members of the at have resigned with immediate effect — Ashok Chawla, its non-executive chairman, and

The bank, fourth largest among private lenders, has appointed Uttam Prakash Agarwal, a chartered accountant, as an independent director in place of Gujarati. The appointment will have to be confirmed at the next shareholder meeting.

is also in the process of selecting a new managing director and chief executive, to succeed Rana Kapoor, the incumbent one. In September, the Reserve Bank of India had rejected its request to grant another three-year term commencing September 1 to Kapoor. The central bank later directed that a successor to Kapoor be appointed by February 1, 2019.

Chawla continues to be a director on the boards of the and at

Gujarati had resigned due to personal commitments, the bank said.

First Published: Thu, November 15 2018. 01:55 IST