100-Word Take | Is Rajat Monga set to be new Yes Bank chief?

Recent events may pave the way for Rana Kapoor’s man to claim the coveted role.

Newspaper reports suggest that the board of Yes Bank is likely to suggest the name of one internal candidate, Rajat Monga (Executive Director) and one external candidate, Rajesh Sud (former Managing Director of Max Life Insurance), to the Reserve Bank of India (RBI) to replace Rana Kapoor who will step down from his MD’s position on January 31. The board is likely to suggest at least three names, but the third name is not yet in the public domain.

Two internal candidates, Rajat Monga as well as Pralay Mondal (Senior Group President of Retail & Business Banking), were in the race for the top job. Recent reports also suggest that Mondal is joining Axis Bank, thereby paving the way for Monga as the preferred internal candidate.

In short, recent events may pave the way for Kapoor’s trusted aid to claim the coveted role. Of course, a lot depends on RBI’s stance and the much anticipated audit report of RBI for FY18 that hasn’t come out yet, contrary to its usual timeline. Should Kapoor’s legacy continue, investors of the beaten down Yes Bank stock may have reasons to cheer.

TO FREE OF COST FINANCIAL CONSULTATION FROM THE EXPERTS, CLICK ON Stock Option Tips OR GIVE ONE MISSED CALL ON 9644405056 TO SUBSCRIBE US!