October 19, 2018 / 4:24 AM / 4 months ago

BUZZ-India's Yes Bank slips after RBI denies extension for Kapoor's term

** Yes Bank Ltd falls as much as 5.4 pct to 219.40 rupees; among top pct losers on the NSE index

** Reserve Bank of India (RBI) directed the private-sector lender to appoint a successor to CEO Rana Kapoor by Feb 1, 2019, denying the bank’s request to extend Kapoor’s term

** Last month, RBI said Kapoor can only stay in his job until Jan. 31, without specifying a reason, even though Yes Bank’s shareholders had agreed to extend his term for 3 years

** Yes Bank had then asked for RBI’s approval to extend Kapoor’s term beyond Jan to allow more time to find a replacement

** Bank aims to complete the recruitment process by mid-December, it said on Wednesday

** As of last close, stock had lost 26.4 pct this year

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below