Yes Bank gains 7% on appointment of Brahm Dutt as non-executive part-time Chairman

The Reserve Bank of India has approved his appointment up till July 04, 2020.

Jan 14, 2019 09:01 IST India Infoline News Service

Shares of Yes Bank gained 7% on Monday after the bank appointed Brahm Dutt as its non-executive part-time Chairman of the board.

The Reserve Bank of India (RBI), pursuant to the provisions of the Banking Regulation Act, 1949, and on the basis of Dutt’s outstanding credentials and experience has approved his appointment up till July 04, 2020, the bank said in a press note to the exchanges on Saturday.

Dutt has been on Yes Bank’s board since July 2013 as an independent director and has contributed to almost all sub-committees of the board over the past 5.5 years and is currently also the Chair of the Nomination & Remuneration Committee.

Yes Bank Ltd's share price is currently at Rs195.50, up by Rs11.55 or 6.28%, from its previous closing of Rs183.95 on the BSE.

The scrip opened at Rs185.10 and has touched a high and low of Rs198 and Rs182.40, respectively. So far, 8,92,72,812 (NSE+BSE) shares have been traded on the counter. The current market cap of the company is Rs42,535.03cr.

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