Manish Jain Appointed Executive Director at YES Bank

YES Bank announced that the Reserve Bank of India (RBI) had approved the appointment of Manish Jain as the Executive Director (Whole-Time Director) of the bank. Jain’s appointment is for a period of three years, starting from December 11, 2024, to December 10, 2027. This move follows a prior resolution by the bank’s board of directors and will be subject to the approval of YES Bank’s shareholders. Manish Jain, who has been with YES Bank since September 2023, brings a wealth of experience in corporate and wholesale banking.

Key Details of Manish Jain’s Appointment

Approval from the RBI

• The RBI granted its approval for Manish Jain’s appointment as Executive Director on December 11, 2024, effective from December 11, 2024, to December 10, 2027.
• The approval is based on Section 35B of The Banking Regulation Act, 1949.

Background and Experience

• Current Role: Manish Jain has been serving as the Country Head of Wholesale Banking since his arrival at YES Bank in September 2023.
• Prior Experience: Jain brings over three decades of work experience, including over 23 years with Standard Chartered Bank.
• Educational Qualifications: He holds a Post Graduate Diploma in Management from IIM Bangalore and a B.Tech in Mechanical Engineering from IIT Delhi.

Responsibilities as Executive Director

Corporate and Wholesale Banking Leadership: Manish Jain will continue to oversee the bank’s corporate and wholesale banking operations, including the following areas,

• Large Corporates
• Emerging Local Corporates
• Multinational Corporates
• Financial Institutions and Government Banking
• Project Finance and Loan Syndication
• Transaction Banking and IFSC Banking Unit
• Corporate and Government Advisory
• Food and Agri Strategic Advisory and Research
• Business Economics and Financial Markets
• Jain’s leadership is expected to drive strategic growth in these key areas of the bank’s operations.

Board Resolution

• Prior to receiving RBI’s approval, the YES Bank board of directors had appointed Jain as an additional director and executive director, subject to RBI clearance.
• The appointment will be fully effective once approved by the shareholders of YES Bank.

Impact on YES Bank

• The approval signals the bank’s focus on strengthening its corporate and wholesale banking business.
• Jain’s extensive experience in banking leadership is expected to enhance the bank’s capabilities in managing large corporations, government sectors, and financial institutions.
• His appointment also represents YES Bank’s commitment to attracting experienced leaders to guide its strategic initiatives in an evolving financial landscape.

Summary/Static	Details
Why in the news?	Manish Jain Appointed Executive Director at YES Bank
Appointment Period	December 11, 2024 – December 10, 2027
RBI Approval Date	December 11, 2024
Previous Role	Country Head of Wholesale Banking
Experience	Over 3 decades, with 23+ years at Standard Chartered Bank
Educational Background	Post Graduate Diploma in Management, IIM Bangalore; B.Tech in Mechanical Engineering, IIT Delhi
Responsibilities	Overseeing corporate and wholesale banking, including large corporates, government banking, project finance, loan syndication, and more
Board Resolution	Appointment as additional and executive director, subject to RBI approval
Shareholder Approval	Pending approval from YES Bank’s shareholders