RBI Approves 6-Month Extension for Yes Bank CEO Prashant Kumar
The Reserve Bank of India (RBI) has granted a six-month extension to Prashant Kumar, the current managing director and chief executive officer of Yes Bank. His extended term will begin from October 6, 2025, or continue until a new MD and CEO is appointed—whichever comes earlier.
Yes Bank made the announcement in an exchange filing, confirming that the extension has been approved by the RBI to ensure leadership continuity during the ongoing search for Kumar’s successor.
Also Read:- Yes Bank Board Clears Rs 16,000 Crore Fundraising Plan to Boost Capital Base
The Mumbai-based private lender has already begun the hunt for a new chief executive. According to earlier reports, the bank’s board has hired global recruitment firm Egon Zehnder to identify potential candidates for the top post.
Prashant Kumar’s original three-year tenure is set to end in October this year. He took charge of Yes Bank during a critical restructuring phase in 2020, following a bailout led by the State Bank of India and other investors.
Following the news of the extension, Yes Bank’s shares were trading at Rs 20.18 on the National Stock Exchange on June 13, down 1.18 percent in afternoon trade. The decline came amid a broader market dip triggered by geopolitical tensions after Israel launched strikes on Iranian targets.
Yes Bank has not announced a final timeline for naming a new CEO, but the interim extension suggests that the process may take a few more months.
Disclaimer: This post is for general informational purposes only. It does not constitute financial advice. Please consult a qualified professional before making financial decisions.
