REG - YES Bank Limited - Recategorization of Directors

Yes BankAnnouncement

25/08/2022 15:15

For best results when printing this announcement, please click on link below:
http://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20220825:nRSY2712Xa&default-theme=true

RNS Number : 2712X  YES Bank Limited  25 August 2022

YBL/CS/2022-23/18

 

August 25, 2022

 

 India International Exchange IFSC Limited       The Singapore Exchange Securities Trading Limited

 101 First Floor, Hiranandani Signature Tower,   2, Shenton Way #19-00

 GIFT City IFSC - 382355, Gujarat, India         SGX Centre 1, Singapore 068804
 The London Stock Exchange

 10, Paternoster Square,

 London, EC4M 7LS

 

 

Dear Sirs/Madam,

 

Sub: Recategorization of Mr. T Keshav Kumar & Mr. Sandeep Tewari as
Nominee Directors
         of State Bank of India on the Board of YES Bank Limited ("the
Bank").

 

Pursuant to the provisions of Indian Listing Regulations, we hereby inform you
that the Bank vide its letter dated July 15, 2022 had intimated regarding the
appointment of Mr. T. Keshav Kumar and Mr. Sandeep Tewari as Non-Executive
Non-Independent Directors on the Board of the Bank with effect from July 15,
2022.

 

Further, Article 111A, which allows the Board of Directors of the Bank to
agree with investor(s) to nominate Nominee Directors on the Board as per the
terms agreed with the Board, had been approved by Reserve Bank of India on
August 2, 2022 and by the shareholders of the Bank in the Extra Ordinary
General Meeting held on August 24, 2022.

 

Accordingly, pursuant to the Articles of Association of the Bank and the
recommendations received from SBI, the Board of Directors of the Bank has
approved the Recategorization of Mr. T. Keshav Kumar & Mr. Sandeep Tewari
as Nominee Directors with effect from August 25, 2022.

 

The brief profiles of Mr. T. Keshav Kumar and Mr. Sandeep Tewari is given in
Annexure 1.

 

Further, please note that Mr. T. Keshav Kumar and Mr. Sandeep Tewari are not
related to any other Directors or Key Managerial Personnel of the Bank, also
Mr. T. Keshav Kumar and Mr. Sandeep Tewari are not debarred from holding the
office of a director, by virtue of any SEBI order or any other such
authority/regulator.

 

The above is for your information and dissemination to all concerned.

 

Thanking you,

 

Yours faithfully,

 

For YES BANK LIMITED

 

Shivanand R. Shettigar

Company Secretary

 

Encl: A/a

Annexure 1

 

Mr. Sandeep Tewari

 

 

Mr. Sandeep Tewari is a highly experienced advisor who excels in strategic
governance, evaluation of Business Operations and Risk Management. He is a
skilled, enterprising professional with extensive experience in financial
services, accomplished in envisioning and realising strategy with sound
executive leadership accomplishments. He has proven ability to evaluate and
measure company's current performance and determine steps to enact long-term
strategy.

 

Key accomplishments:

 

• Contributed immensely towards improving the Risk Management in the State
Bank of India

   (SBI) specially Operational Risk, Financial Risk & Market Risk the
Audit Department.

• Drove the adoption of data analytics for Risk Management in credit area of
the SBI.

• Re-organised the entire business structure for the SBI and launched
digital banking records

   resulting in compelling advancements in performance.

• Expanded business portfolio by 150% while leading Corporate Account Group
of State Bank

   of India wherein steered the Power & Infrastructure Portfolio.

• Transformed several audit systems by completely automating it and created
a few data points to generate divergence through Core Banking Solutions.
Through experience in audit, was able to substantially improve the risk
management structure in SBI.

 

Empaneled as Assessor for interviewing candidates for Banking Board's Bureau
for CMD, MD&ED level positions in the SBI.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Mr. T Keshav Kumar

 

 

Mr. T Keshav Kumar is a retired banking professional with more than 37 years
of experience in the State Bank group, the largest banking group in India.

 

Mr. Kumar has worked in various facets of banking including retail, commercial
credit, project finance, risk management, treasury etc. He joined the State
Bank of Travancore in 1984 as a Probationary Officer.

 

Mr. Kumar worked at numerous retail branches as Branch Head, Credit Officer
etc. He has rich experience including top executive roles.

 

He retired as the Deputy Managing Director of SBI in September 2021, seeking
to continue contributing to the country's financial sector in Board/Advisory
roles.

 

 

 

-----------

 

 

 

 

 

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  MSCBSGDIXGDDGDU