Yes Bank, which is a private sector bank, elevated two senior management personnel to head the human resources and finance departments. Yes Bank, whose majority shares are now owned by State Bank of India (SBI) and other financial institutions, was saved by the Reserve Bank of India in March 2020 after a huge run-on. Yes Bank said that the board had finally elevated Niranjan Banodkar as the Chief Financial Officer and Anurag Adlakha as the Chief Human Resource. This decision was taken after a lot of evaluation and recommendations of the panel and the audit committee.
The new Human Resources Head will be replacing Deodutta Kurane, who will retire soon, according to the reports. Niranjan Banodkar, on the other hand, joined the bank in April 2006 and is important managerial personnel who is authorized to make regulatory disclosures. He was heading the bank’s market risk division before his elevation to the CFO. Earlier, he had also headed the financial and investor strategy at the bank.
Banodkar has been a chartered accountant and has handled capital markets, financial planning and strategy, and risk management for the past 17 years. He had started a career in banking with the Bank of Bahrain & Kuwait. Before that, he also had a brief stint with E&Y.
Prashant Kumar, who is the Managing Director and Chief Executive of Yes Bank reported that human resources happen to be the most valuable in any organization. It is solely responsible for strengthening people-related policies and practices. He was positive that Adlakha would lead the HR well. Adlakha, according to Kumar, has a lot of experience and a ringside view of all the developments of the past, and the ones need in the future. He seemed optimistic that both Adlakha and Banodkar would be suitable for their respective positions and would benefit the bank.