Under Kumar, the bank has already completed a Rs 15,000-crore capital raise.Shareholders will be considering and adopting a resolution on the salary for Kumar, who has been appointed till March 26, 2021, at the virtual AGM, according to the notice.The MD's suggested remuneration includes a basic salary of Rs 45 lakh, allowances of Rs 1.05 crore, and furnished accommodation of Rs 72 lakh, among other heads, the notice said.It intends to pay Kumar Rs 8.19 lakh for the services rendered as the “administrator” of the bank between March 5 and March 25, when he was appointed as the CEO and MD and a resolution towards the same will be considered and adopted.A special resolution on amending the employee stock options scheme by focusing on increasing the base will also be considered at the meeting, as per the notice.The total options available will be increased by 15 crore to 22.5 crore from the earlier 7.5 crore and the nomenclature of the scheme will also be changed to "YBL ESOS – 2020", as per the notice. The former SBI MD Prashant Kumar is already heading the bank as its MD & CEO while there are two SBI-nominated directors on the board. Other resolutions to be considered and adopted at the AGM also include a change in the articles of association, which seem to focus largely to reflect the changed promoter status, according to the notice. The … Typically, officials serving state-run banks are paid much lower emoluments.
Prashant Kumar, ex-DMD & CFO of SBI appointed as the administrator. Prashant Kumar joined the State Bank of India in 1983 and has 30 years of experience in the banking field. Kumar's mettle was tested in field while leading Kolkata circle as chief General Manager and as general manager in erstwhile Maharashtra and Goa circle. A special resolution on amending the employee stock options scheme by focusing on increasing the base will also be considered at the meeting, as per the notice. Copyright © e-Eighteen.com Ltd. All rights reserved. The MD's suggested remuneration includes a basic salary of Rs 45 lakh, allowances of Rs 1.05 crore, and furnished accommodation of Rs 72 lakh, among other heads, the notice said. Shareholders will be considering and adopting a resolution on the salary for Kumar, who has been appointed till March 26, 2021, at the virtual AGM, according to the notice. Kumar joined the bank after retiring as the chief financial officer of SBI, after the Yes Bank's board was replaced by the government and the Reserve Bank to protect interests of the depositors as the financial position of the bank became precarious and it was unable to raise new capital. Yes Bank's managing director and chief executive Prashant Kumar, a veteran SBI hand who joined the bank as part of its bailout, is set to be paid a total remuneration of Rs 2.84 crore.
Reserve Bank of India (RBI) has in consultation with the Central Govt, superseded the Board of Directors of Yes Bank Ltd for a period of 30 days owing to a serious deterioration in the financial position of Bank. Under Kumar, the bank has already completed a Rs 15,000-crore capital raise.
In a notice to shareholders for the annual general meeting on September 10, the bank also said that it is looking at trebling up stock options to be granted to senior executives to 22.5 crore, in what can be seen as a move to retain talent. He also served as the Chief General Manager of SBI in … Kumar joined the bank after retiring as the chief financial officer of SBI, after the Yes Bank's board was replaced by the government and the Reserve Bank to protect interests of the depositors as the financial position of the bank became precarious Yes Bank's managing director and chief executive Prashant Kumar, a veteran SBI hand who joined the bank as part of its bailout, is set to be paid a total remuneration of Rs 2.84 crore. State Bank of India on Monday said Prashant Kumar has taken charge as the Chief Financial Officer (CFO) of the Bank.Before Kumar, Anshula Kant, who has been promoted as Managing Director of SBI, was t See the complete profile on LinkedIn and discover Prashant’s connections and jobs at similar companies. It intends to pay Kumar Rs 8.19 lakh for the services rendered as the 'administrator' of the bank between March 5 and March 25, when he was appointed as the CEO and MD and a resolution towards the same will be considered and adopted. or medium without express writtern permission of moneycontrol.com is prohibited.172@29@17@138!~!172@29@0@53!~!|news|business|prashant-kumar-set-to-earn-rs-2-85-crore-as-md-ceo-of-yes-bank-5720481.html!~!news|moneycontrol|com!~!|controller|infinite_scroll_article.php!~!is_mobile=falseLast Updated : Aug 18, 2020 08:08 AM IST | Source:
Read more about Meet Prashant Kumar, SBI veteran asked to steer Yes Bank in rough seas on Business Standard. View Prashant Kumar’s profile on LinkedIn, the world's largest professional community. In a notice to shareholders for the annual general meeting on September 10, the bank also said that it is looking at trebling up stock options to be granted to senior executives to 22.5 crore, in what can be seen as a move to retain talent.Kumar joined the bank after retiring as the chief financial officer of SBI, after the Yes Bank's board was replaced by the government and the Reserve Bank of India (RBI) to protect interests of the depositors as the financial position of the bank became precarious and it was unable to raise new capital.Typically, officials serving state-run banks are paid much lower emoluments.
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