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YES BANK announces the appointment of Mr. Brahm Dutt, as Non - Executive Part-Time Chairman

Posted On: 2019-01-16 13:40:16

YES BANK, India's fourth largest private sector Bank announced the appointment of Mr. Brahm Dutt as Non-Executive Part-Time Chairman of the Board.

The Reserve Bank of India, pursuant to the provisions of the Banking Regulation Act, 1949, and basis Mr. Brahm Dutt's outstanding credentials and experience, has approved his appointment as Part-Time Chairman of YES BANK's Board up till July 04, 2020 vide its letter dated January 11, 2019.

Mr. Brahm Dutt has been on the Board of YES BANK since July 2013 as an Independent Director, and has contributed to almost all the sub-committees of the Board over the past 5.5 years and is currently also the Chair of the Nomination & Remuneration Committee.

During his career in the IAS for 37 years, he held several posts in the State Government of Karnataka as well as in the Central Government and rose to the level of Secretary to Government of India. Before retirement from the service, he worked as Secretary in the Cabinet Secretariat and in the Ministry of Road Transport & Highways, for over three and half years. After retirement from the IAS, he was an advisor (Energy & Highways) to Government of Karnataka from May 2011 to September 2013. Besides advising several private companies on issues related to SMEs, FDI, infrastructure, highways and power, he was also associated with several government committees and task forces.

His core competence is in the area of SME development. He has acted as a member on the board of directors of SIDBI, NSIC, KSFC, KSSIDC and several other public sectors undertakings associated with development and financing of small scale and micro enterprise in Karnataka. He has closely dealt with issues connected with availability of credit to these sectors and was associated with several high level committees towards the same. As Joint Secretary, the very first initiative for development of micro finance institutions in the country was taken by him.

Some other posts held in Government of India are Chairman, Tariff Authority for Major Ports, Chairman, National Authority for Chemical Weapons, Additional Secretary (Department of Personnel & Training), Counsellor (Commerce & Finance, Embassy of India, Washington DC) and Deputy Secretary (Ministry of Commerce). In the state Government of Karnataka, he held the posts of Principal Home Secretary, Principal Secretary (Disinvestment & Public Sector Reforms), CMD, Mysore Paper Mills, Secretary (Education) and also worked in the field as Assistant Commissioner in-charge of sub-division and Deputy Commissioner of Mysore District in Karnataka Government.

He had led several missions as International Consultant for the International Trade Centre, Geneva for preparation of projects for development of SMEs in Ghana, Nigeria and The Gambia in Africa. He also acted as a Consultant for UNIDO and UNDP.

Mr. Dutt is M.Sc (Physics), MA (Economics) & LL.B. and has more than 37 years of experience in Indian Administrative Services (IAS).

Shares of YES BANK LTD. was last trading in BSE at Rs.183.95 as compared to the previous close of Rs. 186.7. The total number of shares traded during the day was 3642798 in over 17148 trades.

The stock hit an intraday high of Rs. 190 and intraday low of 182.9. The net turnover during the day was Rs. 675092689.


Source: Equity Bulls

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