Kumar has been granted an extension of six months, which will take effect from October 6, 2025, or till the appointment of a new MD & CEO, whichever is earlier, Yes Bank stated in an exchange filing.

Yes Bank had made an application to the RBI under The Banking Regulation Act, 1949, to extend Kumar's tenure as MD & CEO.

A former Deputy Managing Director and Chief Financial Offer (CFO) at India's largest lender State Bank of India (SBI), Kumar was appointed as MD & CEO of Yes Bank after a consortium of banks, led by his former employer SBI, had rescued the bank from a liquidity crisis in 2020.

He had received his first extension from the central bank in October 2022 for a three-year period, which meant that his term was to end in October 2025.