The bank will name a new chairman near-term, subject to an approval from the Reserve Bank of India.
Last week, Icra downgraded the long-term ratings of Yes Bank.
Yes Bank said on Wednesday its non-executive independent chairman, Ashok Chawla, was resigning from the bank’s board, effective immediately.
The bank will name a new chairman near-term, subject to an approval from the Reserve Bank of India (RBI), the bank said in a statement.
The RBI said last month that the retail bank should appoint a successor to Chief Executive Officer Rana Kapoor by Feb 1, 2019, after uncertainty around his succession plans.
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