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Rajeev Ahuja appointed as Interim MD & CEO of RBL Bank

The Reserve Bank of India has stated that the RBL Bank is well capitalized and the financial position of the bank remains satisfactory. Further, it has clarified that the appointment of additional director/s in private banks is undertaken under Section 36AB of the Banking Regulation Act, 1949, as and when it is felt that the board needs closer support in regulatory/supervisory matters. As such, there is no need for depositors and other stakeholders to react to the speculative reports. The bank’s financial health remains stable, the central bank stated.

Yogesh Dayal has been appointed as the Additional Director on the board of the bank for two years till December 23, 2023 or till further orders, whichever is earlier. The board accepted the request of Vishwavir Ahuja to proceed on medical leave and appointed Rajeev Ahuja (existing Executive Director of the bank) as the Interim Managing Director and CEO of the bank, subject to regulatory and other approvals.

There has been speculation relating to the RBL Bank in certain quarters, which appears to be arising from recent events surrounding the bank. As per half-yearly audited results as of September 30, 2021, the bank has maintained a comfortable capital adequacy ratio of 16.33% and a provision coverage ratio of 76.6%. The liquidity coverage ratio (LCR) of the bank is 153% as of December 24, 2021, as against the regulatory requirement of 100%.

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