RBI approves 6-month extension for MD & CEO of Yes Bank
The extension comes as the Mumbai-based bank has launched the search for a new CEO and is engaging with global recruitment firms.
Shares of private sector lender, Yes Bank rose as much as 35 per cent to hit Rs 76.65 on Thursday, making its biggest gain in a day in four weeks.
Yes Bank’s gain comes after it received an investment of $1.2 billion from a global investor, said media reports. On the NSE bank’s shares rose as much as 29 per cent to Rs. 73.80.
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For a while now, the bank has been in talks with several foreign as well as domestic investors for raising its capital.
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Yes Bank remains firmly on course to raising growth capital subject to necessary approvals, the bank added in a statement.
Since the beginning of the year, Yes Bank shares witnessed a hard time selling. In fact, its shares plunged as much as 84 per cent to hit an all-time low of Rs. 29.05 on October 1.
As of 1455 hours , Yes Bank shares traded 27.64 per cent higher at Rs. 72.50, outperforming the Sensex which was up 0.75 per cent.
(With input from agencies)
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