YES Bank jumps 5% on news Rana Kapoor may not seek chairman's post

NEW DELHI: Shares of YES Bank jumped over 5 per cent in early deals on Friday after reports that outgoing Managing Director and CEO Rana Kapoor may not be in the fray for the post of chairman.

Rana Kapoor is unlikely to be in the fray for the post of chairman which fell vacant following the resignation of Ashok Chawla earlier this month, PTI reported Thursday.

The private sector lender will recommend the name of new chairman for approval by the RBI after the meetings of the Nomination and Remuneration Committee (N&RC) and the board of directors scheduled for December 13.


The bank may also suggest the name of candidates for the MD & CEO post to the RBI by mid-December as Kapoor will vacate the office in January next year.

Shares of the company traded at Rs 168.75 apiece, up 5.17 per cent on BSE around 9:25 am. The equity benchmark Sensex was 0.45 per cent up at 36,332 at that time.