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Yes Bank elevates 3 execs to wholetime directors

Yes Bank on Friday elevated three of its top executives as wholetime directors,amid the continuing debate over the nomination

Written by ENS Economic Bureau | Mumbai | Published: June 29, 2013 1:42:27 am

Yes Bank on Friday elevated three of its top executives as wholetime directors,amid the continuing debate over the nomination of the daughter of one of its founders on the bank’s board.

The decision was taken at Thursday’s board meet which was to consider the nomination of Shagun Kapur Gogia on the board. The Bombay High Court had asked the meet be brought forward to this week from the earlier scheduled date of July 24. While decision on Gogia will be communicated directly to the court,the bank announced Rajat Monga,Sanjay Palve and Pralay Mondal will be elevated to the position of wholetime directors.

Monga is currently the CFO while Palve and Mondal are senior group presidents for wholesale and retail banking respectively. Their appointment will be effective on approval from the RBI,and subject to shareholder approval,Yes Bank said. FE

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