As the fourth largest private sector Bank, YES BANK is establishing the highest standards of Corporate Governance across the organisation. With an excellent Board of Directors and the institution of all recommended sub committees, the Bank is compliant with all the necessary statutory requirements.
YES BANK is ordained to set the highest standards of Corporate Governance right from its inception benchmarked with the best class practices across the globe. Effective Corporate Governance is the manifestation of professional beliefs and values, which configures the organizational values, credo and actions of its employees. Transparency and accountability are the fundamental principles to sound Corporate Governance, which ensure that the organization is managed and monitored in a responsible manner for 'creating and sharing value'.
YES BANK believes that there is a need to view Corporate Governance as more than just regulatory requirements as there exists a fundamental link with the organization of business, corporate responsibility and shareholder wealth maximization.
Therefore, YES BANK is articulating a multi-stakeholder model (including shareholder value) of accountability that will manage the symbolic relationship between the various stakeholders. This approach will be central to the day-to-day functioning of the Bank and in implementation of its business strategy.
The reconstitution of the Bank’s Board was undertaken as part of the “YBL Reconstruction Scheme” by the Reserve Bank of India in consultation with the Central Government of India
The Board consists of Four Directors appointed under the Scheme, two Directors appointed by the Reserve Bank of India as Additional Directors and two Directors appointed as Nominee Directors by the State Bank of India
The Board consists of three Directors appointed by the Government of India
The Government appointed Directors fulfill criteria provided in the definition of “Independent Director” as per SEBI LODR Regulations and the Companies Act, 2013, though they are not appointed by the Shareholders
None of the Directors have ownership or controlling stake in the Bank. All Directors are covered under non-promoter category only
Digital Wallet with free Virtual card and UPI which can be used to send/receive money, mobile/DTH recharge, pay bills and much moreRead More