Rana Kapoor reappointed as MD and CEO of Yes Bank for 3 more years

Private sector lender Yes Bank on Tuesday said that its shareholders have approved re-appointment of Rana Kapoor as the bank's MD and CEO for a further period of three years, effective from September 1.

According to the bank, the general body of its shareholders have approved all 13 resolutions at the 14th Annual General Meeting (AGM) of the company held on Tuesday.

The company said that Kapoor's re-appointment is subject to final approval by the Reserve Bank of India (RBI).

"The shareholders have approved through special resolution to raise capital aggregating up to $1 billion by way of issue of shares," the company said in a statement.

"The shareholders also approved through special resolution the proposal to borrow/raise funds in Indian/foreign currency by issue of Debt Securities including but not limited to Non-Convertible Debentures, Medium Term Notes and Bonds up to a total amount of Rs 300 billion."

The company added that its shareholders also approved through special resolutions to raise the total borrowing limit of the bank to Rs 1,100 billion.