Yes Bank reappoints Rana Kapoor as MD

Yes Bank’s shareholders have approved 12 resolutions which included the re-appointment of Rana Kapoor as MD & CEO of the bank with a majority vote of 99.97%, sans the vote of the Madhu Kapur family. In the bank’s annual general meeting on Saturday, the shareholders also approved through a special resolution the issuance of non-convertible debentures and bonds up to R10,000 crore and also increased the borrowing limit of the bank to R50,000 crore from R30,000 crore currently. Also, shareholders approved through a special resolution to raise fresh equity aggregating up to $1 billion.

Read Financial Express full report here.