G Sreeram is the new MD & CEO of Dhanlaxmi Bank

Chennai: Private sector Dhanlaxmi Bank on Monday said the RBI has approved the appointment of G Sreeram as its Managing Director and Chief Executive Officer with immediate effect.

"The Reserve Bank of India has conveyed its approval for appointment of G Sreeram as MD and CEO of the bank for a period of three years... G Sreeram has taken charge with effect from today," Dhanlaxmi Bank said in a BSE filing.

Sreeram replaces P G Jayakumar who attained superannuation early this year.

In May 2013, the Reserve Bank of India had extended the service of Jayakumar for a period of one year as Managing Director and Chief Executive Officer.

Jayakumar completed more than 36 years of service in various capacities at the Bank, the bank said in its website.