The Reserve Bank of India (RBI) has cleared the appointment of R Subramaniakumar as managing director and chief govt officer of RBL Bank for a interval of three years, the lender stated on Saturday. Subramaniakumar has earlier overseen the insolvency means of Dewan Housing Finance Corporation (DHFL) in his capability as administrator.
“Please note that a meeting of the board of directors of the bank will be convened in due course upon the completion of requisite formalities, inter alia to approve the appointment of Mr R Subramaniakumar as an additional director and as the managing director & CEO of the bank and the approval of the shareholders shall be obtained thereafter as per the applicable provisions of the Companies Act, 2013 and Sebi listing regulations,” RBL Bank stated in a communication to the exchanges.
The financial institution acquired the communication approving Subramaniakumar’s appointment from the RBI on Friday. Subramaniakumar has 40 years of expertise as a banker. He began his profession at Punjab National Bank (PNB) in 1980 and went on to go enterprise transformation on the financial institution for 3 years. He was later appointed govt director at Indian Bank and Indian Overseas Bank (IOB). He additionally held the place of MD & CEO of IOB. He is at the moment an impartial director on the board of LIC Pension Fund.
At current, RBL Bank is being led by interim MD & CEO Rajeev Ahuja. In December, the financial institution’s board had constituted a search committee to determine a brand new CEO. The change in guard was necessitated by the financial institution’s former CEO Vishwavir Ahuja occurring depart on December 25 after the RBI appointed its govt Yogesh Dayal to the financial institution’s board as an extra director. Vishwavir Ahuja went on depart roughly six months forward of the tip of his tenure.
Source: www.financialexpress.com”