The Reserve Bank of India has appointed its former Deputy Governor, R Gandhi, on the board of private sector lender YES Bank as an additional director.
The appointment has been done in exercise of powers conferred under sub-section (1) of Section 36AB of the Banking Regulation Act, 1949. The RBI has the power to appoint additional directors on the board of a bank if it feels it is in the interest of the banking company or its depositors.
Source- The Hindu Business Line
Static/Current Takeaways Important For SBI Mains 2019:
- Yes Bank Headquarters: Mumbai, Founder: Rana Kapoor.