Page 3 - Dhanlaxmi Bank

Which bank next on the RBI radar?

If shareholders can throw the chairman and MD out, where is the sanctity of the RBI approval for such appointments?

Dhanlaxmi Bank CEO case to test primacy of RBI over banks' shareholders

The removal of CEO Sunil Gurbaxani has led the private banking system into uncharted waters

RBI likely to put its foot down, reinstate Gurbaxani at Dhanlaxmi Bank

RBI's powers under BR Act to decide fate of bank bosses, not Companies Act

How City Union Bank, Federal Bank have sustained investor interest

With gains of 7 - 10 per cent since September 24, both stocks have been an outlier among peers

Balancing tradition and new systems key for old, traditional banks: Experts

These banks need to understand their limitations and balance tradition with new age banking systems, they say

PE investors, foreign banks taking majority stakes may rescue old pvt banks

Several of these banks were placed under the Prompt Corrective Action (PCA) framework of additional regulator scrutiny but this does not seem to have stemmed the rot

Exit was outcome of being truthful and ethical: Dhanalaxmi Bank's Gurbaxani

In a Q&A the lender's MD and CEO dwells on the drama surrounding his ouster at the AGM and how the directors pressurised him to quit after he raised various Governance issues

Top headlines: Trump, Melania test Covid positive, trade unions call strike

From US President, First Lady testing positive for Covid-19 to Musk hinting at Tesla's entry in India next year, Business Standard brings you top news of the evening

'I'm going back home with head held high': Ex-Dhanlaxmi Bank CEO on ouster

The former Managing Director and CEO of Kerala-based Dhanlaxmi Bank Sunil Gurbaxani said he was asked to quit on September 7 itself failing which he would be voted out at the September 30 AGM

RBI okays appointment of CoD to run Dhanlaxmi Bank till appointment of CEO

Dhanlaxmi Bank on Thursday said that the RBI has approved a three-member interim committee of directors, headed by G Subramonia Iyer, to run the private sector bank after the shareholders voted out its MD and CEO Sunil Gurbaxani. The shareholders rejected the resolution for appointment of Gurbaxani as MD and CEO at the 93rd Annual General Meeting of the bank held on September 30. "Consequent to this, please note that Reserve Bank of India has, as requested by the Board of Directors, approved an interim arrangement for formation of a Committee of Directors to exercise the powers of Managing Director & CEO till such time a new MD & CEO takes charge," Dhanlaxmi Bank said in a regulatory filing. The committee of directors (CoD) will be constituted with Iyer as chairman and G Rajagopalan Nair and P K Vijayakumar as its members, it said. "As advised by RBI, the interim arrangement will not continue beyond four months within which the bank will complete the process of identification .

Dhanlaxmi Bank's Board appoints committee after shareholders oust CEO

Independent directors G. Subramonia Iyer, G Rajagopalan and P K Vijayakumar form the CoD. Iyer will be chairperson.

After LVB, Dhanlaxmi Bank shareholders oust chief executive Sunil Gurbaxani

While Dhanlaxmi Bank faces governance issues similar to those in Lakshmi Vilas Bank, the financial profile of the Kerala-based bank is better.

Dhanlaxmi Bank MD and CEO Sunil Gurbaxani voted out by shareholders

The shareholders of Kerala-based small private sector Dhanlaxmi Bank on Wednesday voted out Managing Director and CEO Sunil Gurbaxani at the annual general meeting

RBI appoints its director D K Kashyap on board of Dhanlaxmi Bank for 2 yrs

The appointment is for a period of two years with effect from September 28, 2020, to September 27, 2022, or till further orders, whichever is earlier

Bank employees union seeks RBI intervention in Dhanlaxmi Bank affairs

The bank reported highest profit in nine decades in FY20 at Rs 65 crore

Bank union seeks RBI intervention into state of affairs at Dhanlaxmi Bank

Bank union AIBEA has urged RBI governor Shaktikanta Das to intervene into the affairs of Dhanlaxmi Bank which it alleged is "heading into wrong direction". The All India Bank Employees' Association (AIBEA) in a letter to the RBI governor has claimed that the bank is looking to change its business profile, expand network in northern India and hire senior people on contractual basis at high remuneration which could land it into problems. The bank returned to profits two years ago after posting losses for five years, the AIBEA noted in the letter. Few years ago, particularly around 2008 to 2012, this bank was facing a lot of problems regarding its performance and was making losses. It made losses of more than Rs 850 crore during that period, the AIBEA said in the letter to Das. In the name of modernising the bank, the then top management of the bank brought it to serious problems and virtual mess. With the intervention of the RBI, change in top management, strengthening its capital b

Dhanlaxmi Bank slides 5% as Q1 provisions jump 3-fold YoY to Rs 37 crore

The lender's provisioning for bad loans and contingenices spiked to Rs 37.02 crore in Q1FY21 as against Rs 9.27 crore a year ago. However, it was lower from previous quarter's Rs 56.89 crore

Dhanlaxmi Bank Q1 profit tumbles 69% on higher bad loan provisioning

Private sector Dhanlaxmi Bank on Monday posted a 69 per cent decline in its net profit at Rs 6.09 crore for the first quarter ended June 2020 due to higher provisioning.

RBI approves Sunil Gurbaxani's appointment as Dhanlaxmi Bank MD and CEO

Gurbaxani is working with Axis Bank at present.

Dhanlaxmi Bank Q2 net nearly doubles to Rs 22cr, NPAs fall sharply

The private sector bank made provisions for bad loans and contingencies of Rs 25.38 crore for the September quarter