RBI gives nod for Rajeev Ahuja as RBL Bank's interim MD & CEO

Reserve Bank of India (RBI) has approved the appointment of Rajeev Ahuja as interim Managing Director and Chief Executive Officer (CEO) of RBL Bank for upto three months.

This approval is for a period of three months with effect from December 25, 2021 or till the appointment of a regular MD & CEO, whichever is earlier, the bank informed BSE. On Thursday, the lender's stock was trading lower by 7.17 per cent at Rs 133.95 per share on BSE.

Rajeev Ahuja was appointed as interim MD & CEO on December 25, 2021 after its regular MD & CEO Vishwavir Ahuja proceeded on medical leave. RBI also appointed Yogesh Dayal, its chief general manager as an Additional Director on the Board of the RBL Bank, for two years till December 23, 2023 or till further orders, whichever is earlier. 

There have been media reports indicating that write-off of Rs 300 crore by the bank in the loan account led to regulator's intervention in matters of RBL Bank.  

RBL Bank in a statement had said these developments are not on account of any concern on advances, asset quality and deposit level of the bank. "We want to allay any concerns any of you may have in this regard. The Bank has the full support of the RBI," the lender said on Sunday.