Homefinance News

Yes Bank's board wants Rana Kapoor to give back salary bonuses for 2 years: report

Yes Bank's board wants Rana Kapoor to give back salary bonuses for 2 years: report

Yes Bank's board wants Rana Kapoor to give back salary bonuses for 2 years: report
Profile image

By CNBC-TV18 Oct 15, 2018 9:08:10 AM IST (Updated)

The board of Yes Bank has recommended recovering bonuses paid to founder Rana Kapoor in the two years ended March 31, 2016 after adverse observations made by the Reserve Bank of India (RBI), Mint reported.

The board of Yes Bank has recommended recovering bonuses paid to founder Rana Kapoor in the two years ended March 31, 2016 after adverse observations made by the Reserve Bank of India (RBI), Mint reported.

Recommended Articles

View All

The bank's board has also recommended that no bonuses should be paid to Kapoor for fiscal years 2016-17 and 2017-18 and didn’t propose any bonus for the following year, according to documents viewed by the paper.
The board's recommendations have been sent to the RBI for its final approval, the report said.
The development comes after the central bank asked Yes Bank to reduce Kapoor’s tenure as managing director and chief executive to January 31, 2019.
 
Have you signed up for Primo, our daily newsletter? It has all the stories and data on the market, business, economy and tech that you need to know. 
Check out our in-depth Market Coverage, Business News & get real-time Stock Market Updates on CNBC-TV18. Also, Watch our channels CNBC-TV18, CNBC Awaaz and CNBC Bajar Live on-the-go!