Mumbai–Deutsche Bank India CEO Ravneet Singh Gill has been named the new MD and CEO of Yes Bank with effect from March 1.

The Reserve Bank of India (RBI) gave its approval to replace current MD and CEO Rana Kapoor, whose term ends on January 31, with Gill, Yes Bank said in a regulatory filing after its Board meeting on Thursday.

“The Bank has received RBI approval for its new MD and CEO,” it said.

The bank’s Board will convene on January 29 to finalize the interim transition.

In September 2018, RBI had rejected the bank’s request to extend Rana Kapoor’s tenure for three years and said he could continue until January 31, 2019.

Share price of Yes Bank on the BSE closed at Rs 225.95 on Thursday, higher by Rs 28.65 or 14.52 per cent from the previous close. (IANS)