Nearly 70 senior bankers in race to head debt-ridden Laxmi Vilas Bank

Close to 70 senior bank executives are in the fray to occupy the corner room office of the chief executive and managing director of the Tamil Nadu-based lender Laxmi Vilas Bank.

The Chennai-headquartered mid-sized private sector bank has been headless since mid-September after the then chief executive Parathasarathy Mukherjee left before the completion of his three-year term.
 

The bank, which has been placed under the prompt corrective action by the monetary authority since August for low capital buffer and higher NPAs coupled and mounting losses, is scheduled to complete the process by November 10.

“We have received as many as 68 applications