 "Dhanlaxmi Bank")
Board of Directors of Kerala-based Dhanlaxmi Bank have given approval to appoint J K Shivan as managing director and CEO of the Bank.
It may be recalled that the shareholders of the Kerala-based had voted against MD & CEO Sunil Gurbaxani On September 30, 2020. Then, in December that year, the lender appointed Shivan as the new MD & CEO. However, the banking regulator, Reserve Bank of India (RBI), had asked the Dhanlaxmi Bank Board to get shareholders’ approval before appointing J K Shivan as the next chief of the bank.
According to experts, RBI's direction was unusual since the board typically
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