Rajiv Ahuja appointed as interim managing director and chief executive officer
RBL Bank’s Vishwavir Ahuja has stepped down as the bank’s MD and CEO, and the bank has appointed Rajiv Ahuja as the bank’s interim managing director and chief executive officer with immediate effect.
The Reserve Bank of India has appointed its Chief General Manager Yogesh K. Dayal as additional director on the board of RBL Bank.
RBL Bank said in a regulatory filing that the bank’s board has accepted the “request of Vishwavir Ahuja to go on leave with immediate effect”.
The bank in a meeting held on Saturday appointed Rajiv Ahuja (currently Executive Director) as interim Managing Director and Chief Executive Officer of the bank with immediate effect, subject to regulatory and other approvals, the bank said.
Other terms and conditions of his appointment, such as remuneration, shall remain unchanged.
The bank said it received a communication from the Reserve Bank on December 24, and has appointed its chief general manager Yogesh K Dayal as an additional director on the board of RBL Bank for a period of two years with effect from December 24, 2021. 23 December 2023 or till further orders.
“We would like to mention that the Bank is well prepared to execute its business plan and strategy as communicated during our earnings call on October 28, 2021. To absorb the challenges due to COVID 2. Post-pandemic, the business and financial trajectory continues to improve,” the bank said.
The Bank’s financial position continues to be sound with high levels of liquidity reflected through healthy capital adequacy of 16.3 per cent, Liquidity Coverage Ratio of 155 per cent, stable Net NPAs of 2.14 per cent, Debt Deposit Ratio of 74.1 per cent and Leverage Ratio. 10 per cent, for the quarter ended September 30, 2021, it said.
Apart from this, the bank has also improved the specifics of its deposits and advances, said RBL Bank.
AIBEA, the umbrella body of bank employees’ unions, had written a letter to Finance Minister Nirmala Sitharaman expressing concern that all was not well at RBL Bank and it was heading towards Yes Bank and Lakshmi Vilas Bank.
“We are concerned and concerned about the developments taking place in the affairs of the Kolhapur based private bank RBL Bank Ltd.”
AIBEA in its letter to the Finance Minister said, “The sequence of events with the sudden exit of Vishwavir Ahuja as well as the inclusion of Dayal on the board as an additional member from the RBI indicates that all is well with the bank.” Not there.”
Mr. Vishwavir was heading a private sector bank for the past decade.
AIBEA further said that the board recommended their continuation, but it is learned that the RBI has agreed only for a short term till 2022.
There are also reports that the bank has indulged in retail credit, micro-financing and credit cards and has burnt its finger as a result of which the financial position of the bank has become weak.
“In the backdrop of problems faced by private banks like Yes Bank and Lakshmi Vilas Bank last year, we urge you to immediately intervene in the matter and consider necessary steps including its merger in the interest of depositors of this private sector bank. bank with a public sector bank,” urged AIBEA’s letter to Ms. Sitharaman.
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