YES Bank to seek RBI nod to extend MD & CEO Rana Kapoor's term beyond Jan

The bank has set up a committee to find Kapoor's successor

The board of YES Bank will seek extension of Managing Director (MD) and Chief Executive Officer (CEO) Rana Kapoor till the next annual general meeting (AGM) in September 2019, the lender said in a filing on the BSE. 

The private lender said in its notification on Tuesday that the board will request the Reserve Bank of India (RBI) to extend Kapoor’s term up to at least April 30, 2019, citing Kapoor’s “role in the bank since inception” and “the time-consuming challenges of finding a new successor”. 

In case the RBI approves the request, the board plans to seek further extension