RBL Bank finalises next MD, seeks RBI approval

RBL Bank has finalised the name for regular MD and CEO and forwarded it to the RBI for approval.

New Delhi:  Private sector RBL Bank on Wednesday said it has finalised the name for regular MD and CEO and forwarded it to the RBI for approval. The Board at its meeting held on Wednesday accepted the recommendations of the nomination and remuneration Committee, RBL said in a regulatory filing.

The bank, however, did not disclose the name selected for the position.

It further said the name has been forwarded to the RBI for its approval as per the provisions of the Banking Regulation Act, 1949.

Last month, the Reserve Bank of India (RBI) had granted an extension of three months to its interim MD and CEO Rajeev Ahuja.

Last year in December, in a sudden turn of events, the board of the bank had sent the then MD and CEO Vishwavir Ahuja on leave and elevated Rajeev Ahuja as the interim chief to take care of the day-to-day operations.

Vishwavir's sudden departure was seen as a result of an RBI communication to the bank on December 24, 2021, appointing its Chief General Manager Yogesh K Dayal to the board of the private sector lender in an unusual move. Also Read: Apple iPhone 13 Mini for free! Here’s how to get smartphone at zero effective price

Rajeev in his first interaction with media and investors on December 26, 2021, had said the bank was financially sound and had full support from its board of directors and the RBI. Also Read: Campus Activewear IPO: Issue date, price band, and all you need to know about public issue