Shares of India’s major private sector lender Yes Bank surged in trade on Thursday morning after the RBI cleared the bank of divergence. Yes Bank share price gained by nearly 30% to hit the day’s high at Rs 220.25 on NSE this morning. Yes Bank said yesterday that the RBI has not found any divergence in the asset classification and provisioning done during 2017-18.

Yes Bank on Thursday appointed Ajai Kumar as interim MD & CEO with effect from February 1 this year. He has been appointed till Ravneet Gill joins office, Yes Bank said in a regulatory filing. Rana Kapoor will demit office as MD & CEO of YES BANK on January 31, 2019 upon completion of his term, the private lender said in an exchange filing.

YES Bank on Thursday reported a 6.9 per cent YoY fall in its net profit at Rs 1,001.85 crore for third quarter (October-December) of FY19. It had posted PAT of Rs 1,076.87 crore in the year-ago period. Sequentially, the figures grew 3.9 per cent.

The bank also announced Ravneet Gill as the MD and CEO w.e.f from March 1, 2019. Currently, Ravneet Gill is the CEO of Deutsche Bank India. The bank said its board will convene on January 29, 2019 to finalise the interim transition.

YES Bank, India's fourth largest private sector bank, on Saturday said it has appointed Brahm Dutt as non-executive part-time chairman to the board.

In a statement, Yes Bank said, "Vide its letter dated January 11, 2019, the Reserve Bank of India, pursuant to the provisions of the Banking Regulation Act, 1949...has approved his (Dutt's) appointment as part-time chairman of Yes Bank's board up till July 4, 2020, as Mr Dutt attains the age of 70 years."

Lending major Yes Bank on Thursday submitted the names of the potential candidates for its Managing Director and Chief Executive post to the Reserve Bank of India (RBI).

According to the bank, the Board has submitted an application to the RBI to seek its approval for the names of the selected candidates.

Shares of YES Bank fell as much as 5.6 per cent to Rs 181.55 on the BSE in intra-day trade on Wednesday as the investors awaited the outcome of the bank's board meeting in regards to the appointment of the new managing director (MD) and chief executive officer (CEO).

At 2:22 pm, the stock of the private sector lender was trading at Rs 187.50 down Rs 4.80 or 2.5 per cent. Over 5.4 crores of shares were traded on the BSE and National Stock Exchange (NSE) so far.

Yes Bank is adequately capitalised to achieve a retail book size of 17.5% of total advances for this fiscal against a current retail book size of around Rs 33,000 crore though it remains fairly risk-averse, staying away from the high-end home loan segment and consumer durables thus far. The bank aims for a retail book size of Rs 55,000 crore or 20% of total advances next fiscal year, group president and group head – branch & retail banking at Yes Bank Rajan Pental said.

Yes Bank has recommended the name of its board member Brahm Dutt for the post of Chairman to the RBI, according to sources. The Chairman post fell vacant after the resignation of Ashok Chawla in November following issues related to probity. “The bank has sent the name of Dutt to the Reserve Bank for the Chairman post,” a source said Tuesday.

Mumbai: Yes Bank shares advanced over 12% in the last two consecutive sessions, hitting a two-week high ahead of its board meeting on Thursday. Today, the Yes Bank stock closed at Rs 186.80 on BSE, up 5.3% from its previous close while India’s benchmark Sensex Index rose 1.8% to 35,779.07 points.

Private sector lender YES Bank on Tuesday said its wholly-owned subsidiary YES Asset Management has received markets regulator Sebi's approval to launch two mutual fund schemes.

YES Asset Management (India) is the latest Indian company to enter the mutual fund segment.

Inviting Real Estate Agents, Job Placements Agents, Educational Institutes, Software Service Providers, Real Estate Builders, Marriage Bureaus, Travel Agents, Restaurant Owners, Health & Fitness Centers and other Local Businesses to Post a FREE Classified Advertisement on Cootera.com Classifieds Website.