October 19, 2018 / 4:24 AM / 9 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

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