YES Bank Limited Recategorization of Directors (2712X)

TIDM16ER

RNS Number : 2712X

YES Bank Limited

25 August 2022

YBL/CS/2022-23/18

August 25, 2022

 
 India International Exchange              The Singapore Exchange Securities 
  IFSC Limited                              Trading Limited 
  101 First Floor, Hiranandani Signature    2, Shenton Way #19-00 
  Tower,                                    SGX Centre 1, Singapore 068804 
  GIFT City IFSC - 382355, Gujarat, 
  India 
 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, w e 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.

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August 25, 2022 10:06 ET (14:06 GMT)