The RBI has curtailed the term of Yes Bank's founding CEO Rana Kapoor and asked the private sector lender to look for his replacement by January 2019. 

Kapoor, who has been managing Director and CEO since the bank's inception in 2004, had sought a 3 year extension till August 31, 2021. However, the sector regulator did not agree to the request and permitted him to continue only till January 2019.