Mumbai: Yes Bank on Friday said the appointment of former deputy governor of the Reserve Bank of India, R Gandhi, on the board is aimed at strengthening the bank. The RBI is supportive of a strong and successful Yes Bank and we stand committed to serving the best interests of all our stakeholders," the notice added. Earlier Dhanalaxmi Bank and Lakshmi Vilas Bank had RBI-appointed directors on their boards. Yes Bank had seen a management churn after its founder Rana Kapoor was forced to step down as managing director and chief executive officer by 31 January 2019. Also read: CEO Ravneet Gill planning to replace entire top management of Yes BankWeeks after Gill took charge, the bank reported its first-ever quarterly loss.

Source: Mint May 17, 2019 04:30 UTC