RBI appoints former deputy governor R Gandhi as additional director on Yes Bank board for two years

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New Delhi: Sure Financial institution mentioned on Wednesday the Reserve Financial institution of India (RBI) has appointed former central financial institution’s deputy governor R Gandhi as further director on its board for 2 years.

 RBI appoints former deputy governor R Gandhi as additional director on Yes Bank board for two years

Representational picture. Reuters

“The Reserve Bank of India vide its letter dated 14 May, 2019, informed that in exercise of powers conferred under … the Banking Regulation Act, 1949, appointed R Gandhi, ex-deputy governor, Reserve Bank of India as additional director on the board of the bank for a period of two years with effect from 14 May, 2019 to 13 May, 2021 or till further orders, whichever is earlier,” Sure Financial institution mentioned in a regulatory submitting.

The personal lender mentioned its board “heartily” welcome the appointment of Gandhi given his impeccable background and observe document as a extremely revered regulator in India.

“This appointment will significantly strengthen Yes Bank’s board composition and the bank will immensely benefit from R Gandhi’s experience and wisdom at the Yes Bank,” the submitting mentioned.

Shares of Sure Financial institution tanked 8.01 p.c to shut at Rs 143.65 on BSE.

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