Yes Bank receives RBI approval for appointment of R Gandhi as part-time chairman

The Reserve Bank of India (RBI) has okayed the appointment of Rama Subramaniam Gandhi as the Non-Executive (Part-time) Chairman of Yes Bank with effect from September 20, for a tenure of 3 years. Gandhi is currently a financial sector policy expert and adviser. At present, Gandhi advises banks, finance companies, fintech entities, payment system entities, investors, and funds on subjects ranging from financial regulations to and Indian economy.

Also, he was an independent director on the boards of several financial sector entities like bank, market infrastructure, account aggregator, information utility and fintech, among others. He is a prolific speaker and covers, including these areas, wide range of subjects.

Gandhi was also a deputy governor of RBI for three years from 2014 to 2017. He had been a seasoned and accomplished central banker for 37 years. He had a three-year secondment to the Securities and Exchange Board of India (SEBI), the capital market regulator. He also held the charge of Director of the Institute for Development and Research in Banking Technology IDRBT), Hyderabad.

Gandhi has been associated with various committees, working groups, and task forces both domestically and internationally.

Gandhi was one of the initial members of the Monetary Policy Committee (MPC). He was a member of the Basle Committee on Banking Supervision (BCBS) and the Committee on Global Financial Systems (CGFS), Basle.

He has taken his education in India and abroad. He holds a master’s degree in Economics from Annamalai University, in Tamil Nadu, India. Further, he also has post graduate level certificates in Management Information System from The American University, Washington DC, USA and in Capital Market from the City University of New York, New York, USA. His technical education includes a certificate course in System Programming from the IBM Education, Sydney, Australia. The financial sector expert also holds a certificate in Gandhian Thoughts from Madurai University, Tamil Nadu, India.

In another development today, Yes Bank received the board of directors' approval to transfer stressed assets worth ₹48,000 crore to private equity firm JC Flowers. YES Bank will also pick up a 19.99% stake in the ARC.

On BSE, Yes Bank shares closed at ₹16.40 apiece flat compared to the previous day's closing of ₹16.35 apiece. The company's market cap is around ₹41,090.49 crore.