YES Bank cracks 8% after board says yet to finalise new MD & CEO

The stock has taken a heavy beating since September when the RBI trimmed MD & CEO Rana Kapoor's tenure till January 31, 2019.

Shares of YES Bank cracked as much as 7.9 per cent to Rs 172 on BSE towards the fag-end of the session on Tuesday, after the private sector lender said it is yet to finalise the name of MD & CEO. The bank held board meeting during the day where it finalised a part-time non-executive Chairman and said the final recommendations with respect to MD & CEO will be submitted to the Reserve Bank of India (RBI) post January 9. 

"The Bank's Nomination & Remuneration Corrunittee (N&RC) and Board of Directors have finalised the recommendation for Non-Executive Part-Time Chairman position