Yes Bank gets RBI nod for appointment of R Gandhi as part-time chairman

The Reserve Bank of India (RBI) has approved the appointment of Ram Subramaniam Gandhi as the non-executive (part-time) chairman of Yes Bank for a tenure of 3 years with effect from September 20. Gandhi is currently a policy expert and advisor to the financial sector. Currently, Gandhi advises banks, finance companies, fintech institutions, payment systems institutions, investors and money on topics ranging from financial regulations to the Indian economy.

In addition, he was an independent director on the boards of several financial sector entities such as Bank, market infrastructure, account aggregator, information utility and fintech, among others. He is a prolific speaker and has a wide range of subjects, including these.

Gandhi’s deputy governor was also reserve Bank of India For three years from 2014 to 2017. He was an experienced and efficient central banker for 37 years. He had a three-year stint in the capital markets regulator Securities and Exchange Board of India (SEBI). He also held the charge of Director, Institute of Development and Research in Banking Technology IDRBT, Hyderabad.

Gandhi has been associated with various committees, working groups and task forces domestically and internationally.

Gandhi was one of the early members of the Monetary Policy Committee (MPC). He was a member of Basel Committee on Banking Supervision (BCBS) and Committee on Global Financial Systems (CGFS), Basel.

He has done his education in India and abroad. He holds a master’s degree in economics from Annamalai University in Tamil Nadu, India. In addition, he also holds a Post Graduate Level Certificate in Management Information Systems from The American University, Washington DC, USA and in Capital Markets from City University of New York, New York, USA. His technical education includes a certificate course in systems programming from IBM Education, Sydney, Australia. The financial sector specialist also has a certificate of Gandhian thought from Madurai University, Tamil Nadu, India.

In yet another development today, Yes Bank gets board approval for transfer of stressed assets 48,000 crore to private equity firm JC Flowers. Yes Bank will also take 19.99% stake in ARC.

Shares of Yes Bank closed on BSE 16.40 each flat as compared to the previous day’s closing 16.35 each. The market cap of the company is approx. 41,090.49 crores.

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