New Delhi, May 14 -- The Reserve Bank of India (RBI) has appointed former deputy governor Rama Subramaniam Gandhi as an additional director on the board of Yes Bank for two years, from 14 May 2019 to 13 May 2021, the bank said on Tuesday in a notice to the stock exchanges.

The appointment has been made under sub-section (1) of Section 36 AB of the Banking Regulation Act, 1949, the private sector lender said. The RBI can, according to this section, appoint additional directors "if the Reserve Bank is of [opinion that in the interest of banking policy or in the public interest or] in the interests of the banking company or its depositors it is necessary so to do, it may, from time to time by order in writing, appoint, with effect from such d...