Lakshmi Vilas Bank shortlists 3 names for MD, CEO post; to send list to RBI

The Committee of Directors (CoD) at the troubled Lakshmi Vilas Bank (LVB) has shortlisted three candidates for the post of MD and CEO and the names will be sent to the RBI within a week, an official of the bank said.

The lender's chief executive S Sundar and six other directors were voted out by shareholders earlier this week.

Post the removal, the Reserve Bank appointed a three-member Committee of Directors (CoD) comprising independent directors Meeta Makhan, Shakti Sinha and Satish Kumar Kalra.

"A bank cannot work without a managing director and chief executive officer (MD and CEO). So, we at the board