Rana Kapoor re-appointed to lead YES Bank
Bank to capitalize on innovations in technology
The Board of Directors of YES BANK has reappointed Rana Kapoor as MD & CEO of the Bank for a period of 3 years at the 14th Annual General Meeting (AGM) held on 12 June 2018 in Mumbai.
The board has also approved the appointment of Directors, namely Subhash Chander Kalia, Rentala Chandrashekhar and Dr. Pratima Sheorey
Kapoor’s three-year term is effective 1 September 2018, subject to final approval by the Reserve Bank of India (RBI).
The shareholders have approved through special resolution to raise capital aggregating up to US$1 billion by way of issue of shares (QIP/ADR/GDR/FCCB).
The shareholders also approved through special resolution the proposal to borrow/raise funds in Indian/foreign currency by issue of Debt Securities including but not limited to Non-Convertible Debentures, Medium Term Notes and Bonds up to a total amount of Rs.30,000 crore.
The shareholders also approved through special resolutions to raise the total borrowing limit of the Bank to Rs.110,000 crore.
Speaking on the occasion, Ashok Chawla, Non-Executive Chairman, YES BANK said, “We are extremely satisfied with the trust and faith shown by the institutional and retail shareholders in the Board of Directors and management, the Bank’s business and financial performance, growth plans and decisions to maintain the highest professional standards.”
“YES BANK is fully equipped to capitalize on innovations in technology through strategic partnerships with established organizations as well as agile fintech players, thereby enhancing customer service & developing robust future ready processes for the entire Indian Banking industry,” he said.
YES BANK, India’s fourth largest private sector Bank with a pan India presence across all 29 states and 7 Union Territories of India, headquartered in the Lower Parel Innovation District (LPID) of Mumbai, is the outcome of the professional & entrepreneurial commitment of its Founder Rana Kapoor and its Top Management team, to establish a high quality, customer centric, service driven, private Indian Bank catering to the future businesses of India. fii-news.com