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YES BANK: Appointment of Independent Directors

Mumbai, April 25, 2014 - YES BANK, India’s fourth largest private sector bank, announced the appointment of 2 independent directors – Mr. Saurabh Srivastava, and Mr. Vasanth V Gujarathi on the Board of Directors of YES Bank, at the Board meeting held on April 23’ 14.

Mr. Saurabh Srivastava has a Masters from Harvard University and a B.Tech from IIT- Kanpur. He has been awarded the distinguished alumnus from IIT-K, Honorary Doctorate from University of Wolverhampton, UK and lifetime achievement award from IT industry in India. He is co-founder and past Chairman of NASSCOM. He has been on the Advisory Board’s of Imperial College Business School, London and several Indian Universities and on entrepreneurship/ incubation Board’s of two IITs. His public service commitments have included the Indo EU Round Table, Planning Commission, SEBI Committees on Angel Investing and Venture Capital, IT Ministry’s Committee on Software, Railway Expert Committees, Task force for two of India’s largest states, currently on Advisory Board of software technology parks in India and National Advisory Committees – Department of Science and Technology.

Mr. Vasant V Gujarathi is a Chartered Accountant since 1975. He is an ex-partner of Price Waterhouse Coopers/ Lovelock & Lewes and has over three decades of Audit experience of working with some of the large MNCs & domestic Indian companies. He has exposure in the field of audit, financial systems, operations, risk management, regulatory compliance, internal audit services, IT strategy implementation, talent management, corporate governance review & advisory services, ethics assessment and program development etc.

The Board Constitution is as follows:

Existing

  1. Mr. M R Srinivasan Non Executive Part Time Chairman
  2. Mr. Rana Kapoor, Managing Director & CEO YES BANK LTD.
  3. Ms Radha Singh, Independent Director
  4. Mr. Ajay Vohra, Independent Director
  5. Lt General (Retd.) Mukesh Sabharwal, Independent Director
  6. Mr. Ravish Chopra Non Independent Director
  7. Mr. Diwan Arun Nanda, Independent Director
  8. Mr Brahm Dutt Independent Director

New

  1. Mr. Saurabh Srivastava, Independent Director
  2. Mr. Vasant V Gujarathi, Independent Director

With these 2 appointments, the Board will now constitute of 10 members, of which 7 are independent directors (70% independent directors).

Speaking on this occasion, Mr. M R Srinivasan, Non Executive Part time Chairman, YES BANK said, “Both the newly appointed directors, Mr. Saurabh Srivastava and Mr. Vasant Gujarathi bring significant Policy making, Supervision and Strategic direction driven experience with international and Indian firms, across Technology/ Audit, Stakeholder relationship management etc. These inductions will further strengthen and add considerable value to YES BANK’s Board of Directors, and resultant expansion of the board with 70% independent directors, will further strengthen the Corporate Governance frameworks of the Bank”.

About YES BANK

YES BANK, India’s fourth largest private sector bank is a high quality, customer centric and service driven Bank. Since inception in 2004, YES BANK has grown into a ‘Full Service Commercial Bank’ providing a complete range of products, services and technology driven digital offerings, catering to corporate, MSME & retail customers. YES BANK operates its Investment banking, Merchant banking & Brokerage businesses through YES SECURITIES and its Mutual Fund business through YES Asset Management (India) Limited, both wholly owned subsidiaries of the Bank. Headquartered in Mumbai, it has a pan-India presence across all 29 states and 7 Union Territories in India including an IBU at GIFT City, and a Representative Office in Abu Dhabi.

For more information, please visit the Bank’s website at http://www.yesbank.in/

For media queries, please contact:

Amit Shah
YES BANK
Ph.: +91 9004485552
Email: amit.shah1@yesbank.in

Anil Mathew
Perfect Relations
Ph.: +91 9820480317
Email: amathew@perfectrelations.com

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