YES Bank, India’s fifth largest private sector bank, has received the approval from Reserve Bank of India for appointment of Mr. Ashok Chawla as Non-Executive Part-time Chairman of the Bank for a period of three years from the date of his taking charge. Accordingly, Mr. Chawal took charge as Non-Executive Part-time Chairman of the Bank with effect from October 30, 2016 upon the expiry of the term of the current Chairperson of the Bank, Ms. Radha Singh. Mr. Ashok Chawla, an Independent Director, was appointed on the Board on March 5, 2016.
Mr. Ashok Chawla is a distinguished civil servant with over 40 years of experience in various sectors of the economy in India as well as in International Multilateral agencies. He was the Chairman of the Competition Commission of India (CCI). He obtained his Masters in Economics from the Delhi School of Economics in 1972 and joined the Indian Administrative Service in 1973. He started his career in Gujarat and held various positions, including Chief Executive of important State-owned enterprises. Notably, he was the head of the multi-billion dollar Sardar Sarovar Narmada multi-purpose project.
Mr. Chawla had also held leadership positions in the corporate sector. He has been Chairman and Managing Director of Indian Petrochemicals Corporation Ltd. and a Director on the Oil and Natural Gas Corporation (ONGC).
Positions currently held by Mr. Chawla in other organizations are as under: Chairman of National Stock Exchange of India Ltd., India’s leading stock exchange. Chairman of the Governing Council of The Energy and Research Institute (TERI), a not-for-profit policy research organization, working in the fields of energy, environment and sustainable development.