yes bank ceo: Yes Bank gets RBI nod for appointment of Prashant Kumar as MD and CEO

The Reserve Financial institution of India has authorised the appointment of Prashant Kumar as MD and CEO of Sure Financial institution for 3 years with impact from October 6, 2022. Earlier in July this yr, the alternate Board of the non-public sector lender had advisable to the Reserve Financial institution of India for its approval, the appointment of Kumar as Managing Director & Chief Government Officer (MD &CEO) of the Financial institution for a interval of three years.

“We wish to inform that RBI vide its letter dated October 6, 2022, has authorised the appointment of Prashant Kumar because the MD &CEO of the Financial institution for a interval of three years efficient from as we speak i.e. October 6, 2022,” Sure Financial institution mentioned in a regulatory submitting on Thursday.

Kumar’s appointment is topic to approval of shareholders. Kumar was appointed as Managing Director & Chief Government Officer of Sure Financial institution publish the Reconstruction in March 2020.

Below his management, the financial institution launched into transformation journey to emerge as a re-energized, re-capitalized and recalibrated group, whereas persevering with to fulfil its unwavering dedication in the direction of its prospects and stakeholders, the financial institution mentioned.

“This has been one of many uncommon cases, the place an Indian banking establishment has been an actual turnaround from the brink of collapse inside an especially brief time-frame of only one yr,” it mentioned additional.

Previous to becoming a member of Sure Financial institution, Kumar was Deputy Managing Director & CFO of India’s largest financial institution SBI, the place he served in numerous capacities.