Yes Bank retrieved a total of Rs 1.4 crore performance bonus it paid to its former Managing Director Rana Kapoor after the board of the bank recommended. The performance bonus was paid for the fiscal year ending March 2015 and 2016 and has been retrieved completely according to information received from the annual report of the bank.
Rana Kapoor’s term was cut short by the Reserve Bank of India last year in October after the regulator expressed its unhappiness over the higher NPA divergence of Yes Bank.
The annual report that was released on Thursday told that the board of directors of Yes Bank had considered and approved to retrieve hundred percent of the performance bonus given to its former Managing Director Rana Kapoor for the financial year 2014-15 and 2016.
Rana Kapoor was not given any bonus in 2017 and his tenure ended this year in January. Former Chief Executive Officer of Deutsche Bank Ravneet Gill has taken over as the new Managing Director of Yes Bank in March.