RBI extends term of additional directors of YES Bank

Reserve Bank of India ("RBI") has extended the term of Additional Directors appointed on the Board of YES Bank. The directors are:

1. Shri R. Gandhi (former Deputy Governor, RBI)
2. Shri Ananth Narayan Gopalakrishnan (Associate Professor, S. P. Jain Institute of Management and Research)

Shri R. Gandhi and Shri Ananth Narayan Gopalakrishnan are not related to any other Directors or Key Managerial Personnel of the Bank AND they are not debarred from holding the office of a director, by virtue of any SEBI order or any other such authority.

Shri R. Gandhi is a financial sector policy expert and adviser. His expertise includes banking and non-banking regulation, payment systems, financial markets, FinTech and currency management. He served as a Deputy Governor of the Reserve Bank of India for three years from 2014 to 2017. With 37 years of experience, he has been a seasoned and accomplished central banker. 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.

In his long and illustrious career, Shri Gandhi has been associated with various committees, working groups and task forces, both domestic and international. He was one of the initial members of the Monetary Policy Committee (MPC) and was a member of the Basel Committee on Banking Supervision (BCBS) and the Committee on Global Financial Systems (CGFS), Basel. At present, he advises banks, finance companies and fintech entities.

Shri Gandhi has a master's degree in Economics from the Annamalai University, in Tamil Nadu, India. He completed 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. He also has a certificate in Gandhian Thoughts from the Madurai University, Tamil Nadu, India.

Shri Ananth Narayan Gopalakrishnan is an Associate Professor, SPJIMR and Senior India Analyst, Observatory Group LLC. He is a Director on the boards of SBI Capital Markets Ltd., Dvara Research, Clearcorp Dealing Systems (India) Ltd., CARE Ratings Ltd., Agappe Diagnostics Ltd., Southern Ridges Macro Fund (Cayman Islands) and Advisor with Max Life Insurance Ltd. He is a member of SEBI's Mutual Fund Advisory Committee, FICCI's Capital Markets Committee, RBI's Financial Markets Consultative Committee, IMC's Banking and Finance Committee and Kerala Infrastructure Fund Management Ltd.'s Investment Committee. He has over 24 years of experience in Banking and Financial Markets - with Standard Chartered Bank, Deutsche Bank and Citibank. Till 2017, he was Regional Head of Financial Markets, ASEAN & South Asia with Standard Chartered Bank. Previously, he was SCB's Head of Financial Markets & Co-Head of Wholesale Banking for South Asia between 2012-15, and Managing Director, Head of FX, Rates & Credit Trading South Asia, between 2009-12.

Prior to Standard Chartered Bank he was with Citibank till 2005 (Director, Fixed Income & Currencies Trading, India), and with Deutsche Bank (Managing Director, Global Rates, South Asia - till 2009). He served as the Chairman of the board of Standard Chartered Nepal Limited. between 2016-2017. He was Vice Chairman on the board of Fixed Income Money Markets Dealer's Association (FIMMDA) and Foreign Exchange Dealers Association of India (FEDAI), between 2012 and 2017.

He was on the Board of Central Depository Services Ltd. (CDSL) and Standard Chartered Securities India Ltd. (SCSI) between 2012 and 2017. He was on the Member of the Risk Management Committee of NSE Clearing Ltd. between 2018 and 2020. He has been a part of various RBI committees (including the one that launched FX Options in India, Interest Rate Futures, Financial Benchmarks etc.). He has Chaired various SEBI working groups (including liquidity risk management of debt funds, Fund Inter-scheme Transfers and Fund total expense ratios). He has a B. Tech (Electrical) from IIT Bombay and a PGDM from IIM Lucknow.

Shares of Yes Bank Limited was last trading in BSE at Rs. 13.00 as compared to the previous close of Rs. 12.77. The total number of shares traded during the day was 54448100 in over 19120 trades.

The stock hit an intraday high of Rs. 13.45 and intraday low of 12.25. The net turnover during the day was Rs. 703672480.00.

Source : Equity Bulls

Keywords

YesBank INE528G01035 AdditionalDirectors TermExtension RBIApproval