Under the draft plan, the National Bank of India has expressed interest in investing in Yes Bank. It will have the right to nominate two directors to restructure the bank's board

The Reserve Bank of India said in its draft restructuring plan for Yes Bank that it will appoint a new board of directors for the bank after the "restructuring." It also said that once the new board is in charge, the manager's office of Yes Bank Ltd. appointed by the Reserve Bank will be removed.

The new board will include a CEO who will also serve as director. The other board members will be the non-executive chairman and two non-executive directors.

Under the draft plan, the National Bank of India has expressed interest in investing in Yes Bank. It has the right to nominate two directors to the board of directors of the restructured bank. SBI may invest 49% of its shares in Yes Yes Bank after the capital injection.

The draft plan states: "The Reserve Bank of India can exercise the power conferred by section 36AB (1) of the Banking Supervision Act 1949."

Yes Bank's board of directors can add more directors, but the number must not exceed the limit provided in the Articles of Association.

It added: "The board so appointed will continue to serve as chairman for one year or until Yes Bank Ltd. forms an alternate board through its memorandum of association and normal procedures set out in its constitution.

The Reserve Bank of India says these employees will continue to provide services with and terms that have been applied for at least one year. The Reserve Bank of India said, "However, the restructuring bank's board has the right to terminate the services of key management personnel (KMPs) at any time due process."

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The plan also clearly states that all of Yes Bank's offices and branches will continue to operate in the manner and location they currently operate.

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