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