Rajesh Sud, one of the shortlisted candidates to succeed Rana Kapoor as Yes Bank chief, has pulled out of the race, leaving insider Rajat Monga as the sole recommendation for the central bank to approve, The Economic Times reported.
“Sud pulled out of the race after having shown interest earlier,” a source close to the development told the newspaper. The report, however, didn't mention any reason for his withdrawal.
In October, RBI had said that a successor to Yes Bank’s MD and CEO Kapoor be appointed by February 1, 2019.
After the board meeting on January 9, the search and selection committee of the bank sent its recommendations for the top executive post to the Reserve Bank of India.
Monga, who was also the chief financial officer, has been with the bank since 2004 and serves as senior group president of financial markets.
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