RBI Approves Prashant Kumar’s Appointment As CEO & MD Of YES Bank For Three Years

RBI (Reserve Bank of India) appoints Prashant Kumar as the Managing Director and CEO of yes Bank for three consecutive years. This was announced officially yesterday October 6.

As we are all aware that Yes Bank had to go through lots of issues in just a few years. After the appointment of Mr. Kumar, everyone is just hoping that the organization gets re-energized, re-constructed, and becomes dominant in the financial and banking sectors.

Earlier in July, there was a recommendation of Prashant Kumar who is officially now the Managing Director and CEO of yes Bank. He earlier worked with the State Bank of India and served there well in every aspect. He gave quite impressive knowledge to manage financial and banking services. Hoping that the coming year brings good news for Yes Bank.

The three years of period proves to be very effective after the approval of Prashant Kumar’s appointment as the CEO and MD of Yes Bank. In the coming three years, he contributed to the organization and help them a lot to show their growth to everyone. They all have to work on a strong strategy or plan so that they can beat anyone in this field.

Under the guidance of Prashant Kumar, Yes Bank go through lots of transformation which plays a necessary part in its development.

Giving priority to Yes Bank, Kumar said, “I worked for the SBI and served them with lots of my effort and ideas, like this I also put my fullest effort to the organization Yes Bank and made a great contribution to rank it in the top Banking and Financial service of India.

Yes Bank is a public service sector organization that offers financial and banking services to the people. It was founded by Rana and Ashok Kapoor whose headquarters is in Mumbai Maharashtra, India. The current chairman of yes Bank is Sunil Mehta and the new CEO and MD is Prashant Kumar. It was incorporated on November 21, 2003, and obtained a certificate of commencement of business on January 21, 2004.

Prashant Kumar, who is currently the Chief Operating Officer (COO) of the State Bank of India (SBI), will take over from Ravneet Gill, who has been at the helm of the struggling lender since January 2019. Kumar has over three decades of experience in the banking and financial services industry. He has held various senior positions at SBI, including as the managing director of SBI Cards and Payment Services, and as the deputy managing director of SBI’s corporate banking group.

The RBI had placed Yes Bank under a moratorium on March 5, 2020, capping withdrawals at Rs 50,000 per account. The central bank had also superseded the bank’s board and appointed Gill as the administrator. Yes Bank was founded in 2004 by Rana Kapoor and Ashok Kapur. It is the fifth largest private sector bank in India, with over Rs 2 lakh crore in assets.