Current Affairs - Banking - Discussion

Ravneet Gill, Former India chief of Deutsche Bank, took charge as the Managing Director (MD) and chief executive officer of private sector lender Yes Bank. He will have a three-year term. Mr.Gill succeeds Rana Kapoor, the co-founder of the bank, whose term ended on January 31, 2019. Mr.Ajai Kumar, one of the board members, was appointed as the interim CEO after Mr. Kapoor's term ended. Yes Bank decided to search for a new chief executive after the RBI declined to extend Mr.Kapoor's tenure beyond January 31, 2019, though the board had endorsed a three-year extension.