Yes Bank said on Friday that Kumar’s tenure has been extended from October 6, 2025, to April 5, 2026, following approval at the bank’s 21st Annual General Meeting. The move aligns with the Reserve Bank of India’s (RBI) earlier nod in June, which granted Kumar a six-month extension effective from October.
RBI extension, shareholder nod
The bank had applied to the RBI under the Banking Regulation Act, 1949, seeking to extend Kumar’s tenure. “The Members of the Bank at its 21st Annual General Meeting held today, i.e. on August 21, 2025, have inter alia approved the extension of tenure i.e. reappointment of Mr. Prashant Kumar as Managing Director & CEO of the Bank for the period from October 6, 2025, till April 5, 2026,” Yes Bank said in a stock exchange filing.The bank added that Kumar’s remuneration package remains subject to RBI approval. It also confirmed: “Mr. Prashant Kumar is not debarred from holding the office of a director by virtue of any order passed by SEBI or any other authority.”
From SBI to Yes Bank
A former Deputy Managing Director and Chief Financial Officer at State Bank of India, Kumar was brought in to lead Yes Bank in 2020 after a consortium of lenders led by SBI orchestrated a bailout to rescue the private bank from a liquidity crisis.Kumar received his first three-year extension from the RBI in October 2022, with his term set to end in October 2025. Earlier this year, the RBI granted him an additional six-month extension beginning October, or until a successor was appointed, whichever came earlier.Yes Bank credited Kumar’s leadership as pivotal to its recovery since the 2020 reconstruction. Under his stewardship, the bank strengthened its capital position, improved market standing, and rebuilt investor and depositor confidence.Also read | Reliance Jio, NSE IPOs coming soon? Sebi clears roadblock for mega multi-billion dollar listings
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