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Ashok Chawla named part-time chairman of YES Bank

Mumbai : Former head of the Competition Commission of India (CCI) Ashok Chawla will take over as the non-executive part-time chairman of YES Bank — the country’s fifth-largest private sector bank — in October as the RBI has given approval for the appointment, the bank said on Monday.

Chawla, who is chairman of the National Stock Exchange (NSE), will take charge with effect from October 30 for a period of three years upon the expiry of the term of the current chairperson Radha Singh, the bank said in a statement.

Chawla, currently an independent director in the bank, was appointed on the Board on March 5 this year.

A civil servant, Chawla has been posted as Secretary in ministries such as Finance, Economic Affairs and Civil Aviation.

He has been on the Boards of the RBI, Insurance Regulatory and Development Authority, State Bank of India and Life Insurance Corporation of India. He was also at different points in time India’s Executive Director on the International Fund for Agricultural Development, Alternate Governor for India at the World Bank and at the Asian Development Bank.

After his retirement from the civil service, he was appointed as the Chairman of the CCI for the period 2011-2016.