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RBI extends RBL Bank’s interim MD and CEO Ahuja’s tenure

The Reserve Bank of India has extended the tenure of RBL Bank’s interim Managing Director and Chief Executive Officer Rajeev Ahuja by three months.

In a regulatory filing made to the BSE, the bank said: “We wish to further inform that on request of the Bank, RBI vide its letter… dated March 17, 2022, has approved the extension of the term of Rajeev Ahuja, interim Managing Director & CEO of the Bank for a further period of three months with effect from March 25, 2022, or till the appointment of a regular MD & CEO, whichever is earlier.”

Last year, Ahuja was appointed as interim MD & CEO of the bank for a period of three months with effect from December 25, 2021.

The Board had accepted the request of CEO Vishwavir Ahuja to proceed on medical leave and appointed Rajeev Ahuja, the existing Executive Director of the bank as the Interim Managing Director and CEO subject to regulatory and other approvals.

On December 25, 2021, the RBI had appointed Yogesh Dayal as an Additional Director on the Board of the RBL Bank.

At that time, the RBI in a statement had said: “The Reserve Bank would like to state that the bank is well capitalized and the financial position of the bank remains satisfactory.

“Further, it is clarified that 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 or supervisory matters.”

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