Yes Bank CEO Prashant Kumar Gets 6-Month Extension from RBI

The Reserve Bank of India (RBI) has approved a six-month extension for the bank’s Managing Director (MD) and CEO, Prashant Kumar.

Prashant Kumar has played a key role in stabilizing Yes Bank after it went through a serious financial crisis in 2020. Before joining Yes Bank, Kumar was a Deputy Managing Director and CFO at State Bank of India (SBI) — India’s largest bank.

When Yes Bank faced a liquidity crisis (meaning it was running out of money to operate), a group of banks led by SBI came together to rescue the bank. During this period, Kumar was appointed as the MD & CEO of Yes Bank to lead its recovery.

• Kumar’s current term as CEO was set to end in October 2025, after he received a 3-year extension from RBI in October 2022.
• Now, RBI has approved a further extension of 6 months, starting from October 6, 2025, or until a new CEO is appointed, whichever comes first.
• Yes Bank made this announcement through an official stock exchange filing.

About Prashant Kumar

Mr. Prashant Kumar was appointed as Managing Director & Chief Executive Officer of YES BANK post Reconstruction of the Bank in March 2020. He has been re-appointed in October 2022 for a further period of 3 years. 

Prior to joining YES BANK, Mr. Kumar was Deputy Managing Director & CFO of State Bank of India (SBI), India’s largest Bank. He served SBI in various capacities and has a rich experience in diverse fields ranging from credit to human resources.

He joined the SBI as Probationary Officer in 1983 and during his 34 years of service with SBI, he has held various key assignments including Dy. Managing Director (HR) & Corporate Development Officer, Dy. Managing Director & Chief Operating Officer, Chief General Manager, Kolkata Circle, General Manager, Local Head Office Mumbai, DGM (Industrial relations) and faculty in SBI’s Apex Training Institute – State Bank Academy, Gurugram.

He holds degree in science and a law from Delhi University.