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RBI appoints Ajith Kumar as Dhanlaxmi Bank MD & CEO despite stock decline
The Business Guardian
|April 20, 2024
The Reserve Bank of India (RBI) has given its approval for the appointment of Ajith Kumar KK as the managing director and chief executive officer (CEO) of Dhanlaxmi Bank.
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This move comes as the bank prepares for a leadership transition following the end of J.K. Shivan’s term on 29 January 2024.
According to a notification to the exchanges on Friday, Dhanlaxmi Bank’s board of directors will convene a meeting to formalize Kumar’s appointment and seek shareholder approval, as per regulatory requirements.
Kumar is set to succeed J.K. Shivan, who had his tenure extended until a successor was appointed, as per the RBI’s approval in January. The leadership change at Dhanlaxmi Bank coincides with the bank’s plans to launch a ₹300 crore rights issue, approved by its board in March. This capital raise, initially delayed due to board-level disagreements, became urgent following the RBI’s directive to bolster the bank’s capital position.
Denne historien er fra April 20, 2024-utgaven av The Business Guardian.
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