Rana Kapoor, Madhu Kapur to appoint one director each on YES Bank's board

The RBI in October had refused to give incumbent CEO Rana Kapoor an extension to his term

Private lender Yes Bank said that its two co-promoter groups, led by Rana Kapoor and Madhu Kapur, have agreed to nominate one representative director each on the bank's board. It has also recommended a senior board director for the interim MD & CEO functions to the Reserve Bank of India (RBI).  

Sources close to the bank said that non-executive and non-independent director Ajai Kumar has been recommended for the interim CEO's role. He has previously worked in leadership positions at Bank of Baroda and UCO Bank.

The senior board director will temporarily hold the office as 'Board Director on Interim