Yes Bank’s problems have just started. The leadership issue will take longer to resolve given his relationships with other promoter group. It is funny that he plans to take legal action against RBI. His smugness has no end if he really wanted to do this. Two major private banks ICICI and Yes have appointed ex-Fin min officials as Chairman. Sadly, YB’s chairman will himself chargesheeted in Aircel Maxis case. What kind of message he wanted to give? He could not find any banking veteran as Chairman? There were enough signals for the upcoming fiasco. I just hope RK himself doesn’t spend his retirement in litigations.
YB shares will not recover fully unless mr RK is removed from the board too as it will result in either remote control or twin power centres and RBI won’t sit idle in either scenario.