Yes Bank has appointed Neeraj Dhawan as Chief Risk Officer
Yes Bank has appointed Neeraj Dhawan as Chief Risk Officer

Yes Bank has appointed Neeraj Dhawan as Chief Risk Officer

  • Yes Bank has designated Neeraj Dhawan as its central hazard official with a quick impact.
  • The board of directors appointed him as the chief risk officer of the bank for a period of three years.
  • He will replace Ashish Agarwal.
  • Prior to this, Dhawan was holding the position of chief risk officer for retail and business banking at Yes Bank.

IMPORTANT HIGHLIGHTS

  • He finished his B.Com from St.Xavier’s College in 1991.
  • He completed his CS course on Company Law, Law, Tax, Accounts from the Institute of Company Secretaries in 1993.
  • He has 29 years of experience in financial services and banking industry.
  • He served as the General Manager in ICICI Bank from 2011 to 2015 and joined Yes Bank as Group President & CRO Retail & Business Banking in 2015.

BACKGROUND

  • On March 5, the RBI imposed a moratorium on Yes Bank, superseding its Board of Directors and restricting the withdrawal limit for customers on bank’s “inability to raise capital to address potential loan losses” and “serious governance issues” .
  • This was followed by a draft reconstruction scheme of Yes Bank in the public domain.
  • On March 13, the Union Cabinet approved the reconstruction scheme of Yes Bank as proposed by RBI.
  • Initially, the SBI declared that it would purchase 725 crore shares of Yes Bank at Rs. 10 per share subject to regulatory approvals.
  • Nearly two weeks after the imposition of the moratorium, the full banking services of Yes Bank became operational.
  • The Board of Directors was reconstituted on March 26 with RBI-appointed administrator Prashant Kumar being named the new Managing Director and CEO of Yes Bank.
  • HQ– Mumbai, Maharashtra
  • Founder-Rana Kapoor

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