November 14, 2018 / 4:47 PM / 6 months ago

India's Yes Bank chairman Ashok Chawla resigns

Nov 14 (Reuters) - India’s Yes Bank said on Wednesday its non-executive independent chairman, Ashok Chawla, was resigning from the bank’s board, effective immediately.

The bank will name a new chairman near-term, subject to an approval from the Reserve Bank of India (RBI), the bank said in a statement.

The RBI said last month that the retail bank should appoint a successor to Chief Executive Officer Rana Kapoor by Feb. 1, 2019, after uncertainty around his succession plans. (Reporting by Mekhla Raina in Bengaluru; Editing by James Emmanuel)

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