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Toughest finance task in India keeps Yes Bank CEO awake at night

Later later in the day of March 5, Prashant Kumar took an call that is unexpected their employer at State Bank of Asia. He had been provided the task of rescuing the country’s most distressed private-sector bank, and — if he accepted — told to report for just work at 8 a.m. The morning that is following.

“The very first thing that found my brain ended up being where had been the address, ” he recalled. “I experienced to Google it. “

Kumar had hesitation that is little accepting the career of ceo of Yes Bank Ltd., the financial institution that has been teetering in the side of insolvency before being bailed down that month at a price of $1.3 billion. Truly the only concern originated from their spouse, whom Kumar claims had been “shocked” which he had resigned from their safe post during the government-controlled SBI, where he had been main economic officer.