The private sector bank will now seek approval from the Reserve Bank of India (RBI) for the CEO appointment, and will make the relevant disclosures after the RBI's approval, the lender said in a statement.
Yes Bank's governance was thrown into question in September when the RBI asked Kapoor to step down by the end of January, sending its stock plunging and causing several resignations from its board. The central bank had asked the lender to find a new CEO by Feb. 1.
(Reporting by Chris Thomas in Bengaluru; Editing by Rashmi Aich)
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)