Monday, August 2, 2021

SBI nominee director resigns from Yes Bank board

Yes Bank on Wednesday said that Swaminathan Janakiraman, the nominee director appointed by State Bank of India, has resigned. The resignation stands taken with effect from October 28, 2020.

“Accordingly, Swaminathan Janakiraman, ceases to be a director of the bank with effect from end of today, i.e. October 28, 2020,” the filing said.

In his letter, Janakiraman, has conveyed that State Bank of India will shortly nominate a replacement in his place, Yes Bank said in a regulatory filing.

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Janakiraman, in his resignation letter addressed to Yes Bank MD&CEO Prashant Kumar said that “I wish to submit my resignation from the board of directors of Yes Bank as a nominee director, effective today October 28, 2020. SBI will be shortly nominating a replacement in my place.

With this resignation, Yes Bank is left with six members on its board including the MD&CEO Kumar and non-executive chairman Sunil Mehta.

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Yes Bank shares closed at 12.52 apiece on BSE, down 2.49 per cent from the previous close.

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