RBI Approves Manish Jain's Appointment as Executive Director at YES Bank for 3 Yrs

According to recent reports, the Reserve Bank of India (RBI) has given the green light for the appointment of Manish Jain as the Executive Director of YES Bank.

Manish Jain's Appointment

On December 11, 2024, RBI officially approved Manish Jain's appointment as the Executive Director of YES Bank. This approval comes after the bank's board of directors had initially appointed him as an additional director and executive director back in September. The appointment is for three years, starting on December 11, 2024, and ending on December 10, 2027.

In a regulatory filing, YES Bank said: "...we would like to update you that RBI vide its letter dated December 11, 2024, has approved, the appointment of Manish Jain as Executive Director (i.e., Whole Time Director) of the Bank under Section 35B of The Banking Regulation Act, 1949 for a period of 3 (three) years from the date of taking charge as Executive Director i.e. December 11, 2024, till December 10, 2027.”

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Who Is Manish Jain?

Manish Jain has played a major role in YES Bank since September 2023, where he has been leading the corporate and wholesale banking business. He has over three decades of work experience, including more than 23 years at Standard Chartered Bank. Jain holds a postgraduate diploma in management from IIM Bangalore and a B.Tech in mechanical engineering from IIT Delhi.

Areas of Responsibility

As the executive director, Manish Jain will continue to oversee the corporate and wholesale banking business at YES Bank. This includes managing relationships with large corporates, emerging local corporates, multinational corporates, financial institutions, government banking, project finance, loan syndication, transaction banking, and more.

Jain's responsibilities also extend to corporate and government advisory, as well as strategic advisory and research in the food and agri sectors, business economics, and financial markets.

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