Ashok Chawla appointed on Yes Bank board as chairman elect

MUMBAI: Yes Bank has appointed former finance secretary and Competition Commission of India (CCI) chairman Ashok Chawla as additional non executive director on the bank's board with immediate effect.

Further, Chawla will be appointed as chairman of the bank's board subject to Reserve Bank of India (RBI) after the term of the current chairperson expires in October, the bank said in a notice to the Bombay Stock Exchange (BSE).

An IAS officer, Chawla was secretary in the government's finance, economic affairs and civil aviation departments between 1998 and 2011. His four year term as chairman of fair trade regulator CCI ended in January.

In October subject to regulatory approvals Chawla will replace former IAS officer Radha Singh on the bank's board as chairman. Singh an non-independent director on the bank's board since April 2008 was appointed chairperson in 2014.