RBI Appointed Additional Directors for Yes Bank Board

Published on March 21, 2020
Current context: The Reserve Bank of India (RBI) has appointed R Gandhi and Ananth Narayan as additional directors of the Yes Bank Board on 20th March 2020.
RBI Appointed Additional Directors for Yes Bank Board 
  • RBI former deputy governor R Gandhi and former banker Ananth Narayan have been appointed for a term of two years.
  • RBI can appoint one or more persons as additional directors on the board of Yes, under the reconstruction scheme, which came into effect from 14th March 2020.
  • These appointments are effective 26th March 2020.
  • R Gandhi was earlier appointed to Yes Bank’s Board as an additional director till 13th May 2021 and is being reappointed after the board was superseded on 5th March 2020.
  • Ananth Narayan is an associate professor at SP Jain Institute of Management and Research.
  • He was also the regional head of financial markets for ASEAN and South Asia at Standard Chartered Bank.
  • Yes, Bank was under a moratorium period from 5th March 2020 to 18th March 2020.
  • During the period, RBI had superseded its board and appointed former SBI chief financial officer Prashant Kumar as its administrator.
  • Prashant Kumar has been appointed as the chief executive of Yes Bank.
  • Sunil Mehta, former non-executive chairman of Punjab National Bank has been appointed as its non-executive chairman.
  • Mahesh Krishnamurthy and Atul Bheda are the two non-executive directors of the Board.

Question: 

Q.1 RBI has appointed _____________, its former deputy governor as additional director of the Yes Bank Board? 
a. Urjit R. Patel
b. Harun R. Khan
c. R Gandhi
d. Anand Sinha

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