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The Yes Bank board had sought at least a three-month extension for Kapoor from the RBI beyond January 31, 2019.
The five-member panel will also consist of board members Brahm Dutt, Lt Gen (Retd) Mukesh Sabharwal and SC Kalia, the bank said in a regulatory filing Friday evening.
The RBI had last month curtailed the three-year term that Yes Bank's board had sought for its MD and CEO Rana Kapoor.
Currently, these infrastructure, tier II and perpetual bonds are marked AAA and AA+, but put “under watch with developing implications”.
In a 4-page response to clarifications sought by NSE, the bank said neither it concealed any bad loans nor entered any transactions with an intent to window dress corporate accounts to hide NPAs.
Yes Bank's board will meet Tuesday to decide on future course of action following the RBI's directive that the current CEO and MD Rana Kapoor should step down by end-January.
Names doing the rounds include Rajat Monga, but experts say RBI could turn it down as Monga was part of the senior leadership under whose watch the murky Rs 10,600 crore NPA was under-reported.
A bank official, however, said the money has been paid "in protest" and the lender believes that it has not violated any norms.
The Reserve Bank on Wednesday curtailed the term of Yes Bank's founding CEO Rana Kapoor and asked the private sector lender to look for his replacement by January 2019.
The bank informed last evening that the Reserve Bank of India had curtailed the term of Rana Kapoor, its promoter, chief executive and managing director, till January 31, 20.
In June this year, Yes Bank's shareholders had approved the re-appointment of Kapoor for three years, subject to final approval from the Reserve Bank of India.
The bonds, set to mature on September 15, 2028, carry coupon rate of over 9.11 per cent payable annually.
Yes Bank had also recently raised USD 400 million through two syndicated loan transactions in Taiwan and Japan.
'Our footprint of branches is across country and we have now created rural and urban branches segregation,' Rajan Pental, Group President said.