CURRENT AFFAIRS

Detailed explanation-1: -The Reserve Bank of India (RBI) has approved the appointment of Prashant Kumar as MD and CEO of Yes Bank for three years with effect from 6 October 2022. Kumar was earlier appointed as Managing Director & Chief Executive Officer of Yes Bank post the Reconstruction in March 2020.

Detailed explanation-2: -The Reserve Bank of India (RBI) has approved the appointment of Rama Subramaniam Gandhi as the Non-Executive (Part-time) Chairman of Yes Bank with effect from 20 September 2022. He will have a tenure of 3 years. R. Gandhi was earlier a Deputy Governor of RBI for three years from 2014 to 2017.

Detailed explanation-3: -The central government vide its notification dated November 7, 2022 has appointed Varadarajan as part-time non-official director as well as non-executive chairman of the bank for a period of three years or until further orders, whichever is earlier, the bank said in a regulatory filing.

Detailed explanation-4: -Former RBI deputy governor R Gandhi on September 20 was appointed as part-time chairman of YES Bank. The appointment is for a period of three years. “As recommended by the Board of Directors of the Bank, the Reserve Bank of India (RBI) vide its letter dated September 20, 2022, has approved the appointment of Mr.

Detailed explanation-5: -5. Chairman.-(l) The Central Government shall, after consultation with the Reserve Bank, appoint one of the Directors to be the Chairman of the Board. (2) The Chairman shall preside over the meetings of the Board.