Rana Kapoor stepped down as Yes bank CEO on January 31  (Reuters)
Rana Kapoor stepped down as Yes bank CEO on January 31  (Reuters)

Yes Bank appoints Ajai Kumar as interim CEO

  • Ajai Kumar will be interim chief executive, effective February 1, until Ravneet Gill takes charge
  • Yes Bank hired Ravneet Gill, the head of Deutsche Bank India, as its new CEO last week

Mumbai: Yes Bank Ltd on Thursday named Ajai Kumar as interim chief executive, effective February 1, until Ravneet Gill takes charge.

Rana Kapoor stepped down as CEO on January 31 after the bank's founder completed his truncated term, the lender said in a statement.

Yes Bank hired Gill, the head of Deutsche Bank India, as its new chief executive last week after the Reserve Bank of India (RBI) demanded that Kapoor be replaced.

The RBI had denied Kapoor an extension to his term twice last year without giving a reason and asked Yes Bank to find a new CEO by February 1, exemplifying an increasingly assertive approach to tackling Indian banks' bad debts.

This story has been published from a wire agency feed without modifications to the text. Only the headline has been changed

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