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Why only Rana Kapoor and not someone else?#BusinessTitBits


The suspense over the continuity of the flamboyant Rana Kapoor, as the managing director/CEO of Yes Bank, is finally over. In a decisive move, which was seen to be coming, the Reserve Bank has informed Yes Bank that Rana Kapoor can continue as its CEO, only until 31st January, 2019. This entire saga of wait and watch over his continuity as MD of Yes Bank, started when in June 2018, the shareholders of the Bank approved his reappointment as its MD/CEO and sent it to the RBI, for its ratification/approval. The Reserve Bank, in a cryptic letter dt.31.8.2018 approved his appointment, but only until further instructions. It resulted in a suspense, because the reasons for such a reply by RBI were not clear and nor was it sure as to what would the further instructions of the Reserve Bank in the matter of renewal of Rana Kapoor’s appointment be. The RBI has now made its mind clear. Rana Kapoor remains the MD/CEO of Yes Bank until 31.1.2019 only and the bank needs to immediately appoint his successor. The question is why only him ? Mr. Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.

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