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RBI appoints former dy-guv Gandhi on Yes Bank board

Press Trust of India  |  New Delhi 

said Wednesday the Reserve has appointed former RBI as on its board for two years.

"The of vide its letter dated May 14, 2019, informed that in exercise of powers conferred under ... the Banking Regulation Act, 1949, appointed R Gandhi, Ex Deputy Governor, as on the board of the bank for a period of two years with effect from May 14, 2019 to May 13, 2021 or till further orders, whichever is earlier," said in a regulatory filing.

The private lender said its board "heartily" welcome the appointment of Gandhi given his impeccable background and track record as a highly respected Regulator in

"This appointment will significantly strengthen YES Bank's Board Composition and the bank will immensely benefit from R. Gandhi's experience and wisdom at the YES Bank," the filing said.

Shares of tanked 8.01 per cent to close at Rs 143.65 on BSE.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Wed, May 15 2019. 19:06 IST