Private lender Yes Bank on Thursday said the Reserve Bank of India (RBI) has appointed Prashant Kumar as managing director (MD) and chief executive officer (CEO) of the bank for a period of three years effective from October 6, 2022.

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The bank said the RBI on October 6 approved the appointment of Kumar with effect from today, October 6. However, his appointment will be subject to the approval of shareholders.

Kumar was appointed as MD & CEO of Yes Bank post-reconstruction in March 2020. Under his leadership, the bank embarked on a transformation journey to emerge as a recapitalised and recalibrated organisation, while continuing to fulfil its commitment towards its customers and stakeholders.

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This has been one of the rare instances, where an Indian banking institution has been a real turnaround from the brink of collapse within an extremely short time frame of just one year.

Before Yes Bank

Prior to joining the bank, Kumar was deputy managing director & CFO of SBI, India’s largest bank. He served the bank in various capacities and has a rich experience in diverse fields ranging from credit to human resources.

He joined the bank as a probationary officer in 1983 and during his 34 years of service, he held various key assignments including deputy managing director (HR) and corporate development officer; deputy managing director and chief operating officer; chief general manager, Kolkata Circle; general manager, local head office, Mumbai; DGM (industrial relations) and faculty in the bank's apex training institute, State Bank Academy, Gurugram.

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He holds a degree in science and a law from Delhi University.

(Edited by : Shoma Bhattacharjee)

First Published:Oct 6, 2022 9:07 PM IST