RBI refuses more time to Rana Kapoor, tells Yes Bank to appoint new chief by Feb 1
Mumbai, Oct 17 : The Reserve Bank has refused to give an extension to Yes Bank MD and CEO Rana Kapoor and asked the bank to appoint a new chief by February 1, 2019, the private lender said Wednesday.
The Yes Bank board had sought at least a three-month extension for Kapoor from the RBI beyond January 31, 2019.
"The Reserve Bank of India has reaffirmed that a successor to Shri Rana Kapoor, MD & CEO, YES Bank should be appointed by February 1, 2019," the lender said in a stock exchange filing.
The RBI had earlier curtailed the three-year term that the board had sought for Kapoor, also one of the promoters of the bank, to January 31, 2019, and asked the bank to find a replacement.
Yes Bank shares dropped 6.85 per cent to close at Rs 231.75 apiece on BSE.
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Power tariffs under BESCOM to rise from May 1
Bengaluru (PTI): Power bills for consumers under the Bangalore Electricity Supply Company Limited (BESCOM) will go up from May 1, following an order issued by the Karnataka Electricity Regulatory Commission (KERC) on Friday.
The hike comes after KERC allowed the BESCOM to recover a revenue deficit of Rs 2,068 crore incurred in 2024-25, from the consumers.
As a result, for every unit of electricity consumed in 2024-25, the customers will be charged an additional 56 paise, it said.
"BESCOM shall calculate, for each of the active consumers of FY2024-25 the amount to be recovered based on their actual energy consumption during FY2024-25. Such amount shall be recovered during FY 2026-27 in equal monthly instalments, to be called as 'FY25 True up Charges', commencing from the first meter reading date falling on or after 1 May 2026 and concluding with the reading date ending on 30 April 2027," the order said.
"It is further ordered that BESCOM shall maintain a separate head of account, allocated for the purpose, to record the adjustment of the said amount to ensure full recovery of the deficit," it added.
Similarly Chamundeshwari Electricity Supply Corporation Limited (CESC) has also recorded a revenue deficit of Rs 121.71 crore and can collect an additional 15 paisa per unit for consumption in 2024-25, official sources said.
