Reserve Bank of India has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank For three years with effect from October 6, 2022. Earlier this year, the alternate board of the private sector lender recommended the appointment of Kumar as managing director and chief executive officer (MD) to the Reserve Bank of India for its approval. and CEO) for a period of three years.

“We would like to inform that reserve Bank of India Yes Bank in a regulatory filing on Thursday said, vide its letter dated October 6, 2022, sanctioning Prashant Kumar as the MD and CEO of the bank for a period of three years with effect from today i.e. October 6, 2022. has given.

Kumar’s appointment is subject to the approval of the shareholders. Kumar was appointed as the Managing Director and Chief Executive Officer of Yes Bank after the reconstruction in March 2020.

The Bank said that under his leadership, the Bank embarked on a transformation journey to emerge as a revitalized, re-capitalized and restructured organization, fulfilling its unwavering commitment to its customers and stakeholders.

“This has been one of the rare instances where an Indian banking institution has undergone a real transformation from the brink of collapse within a very short time frame of just one year,” it added.

Prior to joining Yes Bank, Kumar was the Deputy Managing Director and CFO of India’s largest bank State Bank Of Indiawhere he held various positions.