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RBI Gives Three Reasons for Yes Bank CEO Rana Kapoor to Step Down
October 10, 2018
The Central government has supported the RBI’s decision to disallow Yes Bank’s CEO Rana Kapoor from holding his position, sources said. The central bank has also given 3 concrete reasons to back its decision which are “weak governance in Yes Bank”, “weak compliance in Yes Bank”, and “wrong asset qualification”. However, Kapoor has decided to take a legal action against RBI and is in talks with his lawyers.
Sources said that the Yes Bank’s board will set up a selection committee to find the next CEO, and may even appoint a headhunter to facilitate the process.
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