RBI Appoints R Gandhi On YES Bank Board

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.

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