Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul><li><keyword id="2179992" type="General" weightage="20" keywordseo="rbl-bank" source="Orion">RBL Bank</keyword> announced that its long-term CEO <keyword id="186752" type="General" weightage="20" keywordseo="vishwavir-ahuja" source="Orion">Vishwavir Ahuja</keyword> has gone on leave, with Rajeev Ahuja taking up the lead in the interim.</li><li>Apart from this, the <keyword id="6354335" type="General" weightage="20" keywordseo="reserve-bank-of-india" source="Orion">Reserve Bank of India</keyword> also intervened by appointing an additional director on the bank’s board.</li><li>Now, reports suggest that <keyword id="6398943" type="General" weightage="20" keywordseo="rakesh-jhunjhunwala" source="Orion">Rakesh Jhunjhunwala</keyword> and DMart’s <keyword id="6505089" type="General" weightage="20" keywordseo="radhakishan-damani" source="Orion">Radhakishan Damani</keyword> want to pick up a 10% stake in the bank.</li></ul>RBL Bank is in a mini crisis of sorts, with its long-term MD and CEO Vishwavir Ahuja going on a leave and the Reserve Bank of India appointing an additional director on the bank’s board. The stock tanked 20% on Monday (December 27), the first trading day after the decision was made public. <div type="image" title="RBL Bank 01_11_21 to 27_12_21." msid="88515164" hostid="261" caption="&amp;lt;p&amp;gt;RBL Bank share price since November, 2021&amp;lt;/p&amp;gt;"></div> The twist doesn’t end there, either – ace investors Rakesh Jhunjhunwala and DMart’s Radhakishan Damani have <a href="https://twitter.com/CNBCTV18News/status/1475296536980426752">reportedly</a> approached RBI to pick up a 10% stake in RBL Bank, likely to cash in on the opportunity on the horizon. On Friday, RBL Bank’s shares ended the day lower by nearly 3%. In 2021 so far, the company has lost a fourth of its value even as the Bank Nifty index gained over 11%. <cmsannotation type="cmsannotation" annotationid="Why is the RBI intervening in the affairs of RBL Bank?" comment="subhead" text="Why is the RBI intervening in the affairs of RBL Bank?">Why is the RBI intervening in the affairs of RBL Bank?</cmsannotation> While both RBI and RBL Bank have been tight-lipped about the trigger behind the central banker’s intervention, reports suggest that there’s likely more going on between the lines. One of the issues that has been repeated elsewhere is concerns about the asset quality of the bank – the gross non-performing assets (Gross NPA) ratio rose to 5.4% in the September quarter from 3.34% in the year before. Unpaid loans surged in the September quarter, as the moratorium on payments came to an end, particularly in the microfinance segment, which makes for 9% of RBL Bank’s total loan book. <div type="image" title="RBL Bank MFI GNPA ." msid="88516605" hostid="261" caption="&amp;lt;p&amp;gt;RBL Bank microfinance segment GNPA&amp;lt;/p&amp;gt;"></div> However, the rise in bad loans may not be reason enough for the RBI to step in. Earlier this year, RBI had approved Vishwavir Ahuja’s extension as the bank’s CEO till June, 2022. Ahuja going on leave mid-way through his term also signals that there are deeper issues at the bank which have not been disclosed to the public yet. “The sequence of events leading to the sudden exit of Mr. Vishwavir Ahuja along with the induction of Dayal from the RBI on the Board as additional member indicates that everything is not ok with the bank,” noted a letter by All India Bank Employees Association (AIBEA) to Finance Minister Nirmala Sitharaman. <cmsannotation type="cmsannotation" annotationid="If Jhunjhunwala and Damani are interested, there may be some things working at the bank" comment="subhead" text="If Jhunjhunwala and Damani are interested, there may be some things working at the bank">If Jhunjhunwala and Damani are interested, there may be some things working at the bank</cmsannotation> Billionaire investors Rakesh Jhunjhunwala and Radhakishan Damani reportedly want to pick up a 10% stake in RBL. The two are yet to comment on the matter and investors must take these unconfirmed reports with a handful of salt. As the following meme on social media reminds us: <div type="image" title="RJ RD RBL meme" msid="88516710" hostid="261"></div> According to RBL Bank’s new interim CEO Rajeev Ahuja, the bank’s financials remain strong. “These developments are not on account of any concern on advances, asset quality and deposits level of the bank. The bank has the full support of the RBI,” he said. In the September quarter, RBL posted a net profit of ₹30 crore as against a loss of ₹459 crore in the quarter before. This, the bank says, was due to an increase in provisions for the June quarter. Beyond the profits, RBL Bank’s fundamentals remain strong. Its liquidity coverage ratio stood at 155%, as against the 100% mandated by RBI. This means that in the short-term, the bank has enough cash to meet its obligations. RBL Bank’s credit card business – which constitutes 22% of the company’s total loan portfolio – has been a fast growing segment for the company. In fact, one broking firm, B&amp;K Research, recently argued that RBL’s credit card business is performing better than SBI Card, the country’s <a href="https://www.businessinsider.in/finance/banks/news/heres-why-axis-bank-may-be-willing-to-pay-2-billion-to-buy-citis-india-ops/articleshow/88407858.cms">second largest credit card issuer</a>. However, investors should keep in mind that it is still a small player with a 4% market share in the number of cards issued ⁠— even though it has grown from a mere 1% in 2017 ⁠— is trailing far behind SBI Card’s 19% market share. <cmsannotation type="cmsannotation" annotationid="How can the RBI appoint directors on a private bank’s board?" comment="subhead" text="How can the RBI appoint directors on a private bank’s board?">How can the RBI appoint directors on a private bank’s board?</cmsannotation> RBI has in the past appointed additional directors on the boards of banks like Yes Bank, Dhanlaxmi Bank, Ujjivan Small Finance Bank among others. According to Section 36AB of the Banking Regulation Act, 1949, RBI can appoint additional directors to protect the interests of the bank, its depositors, the banking regulations or the overall public interest. Update: Rakesh Jhunjhunwala has now <a href="https://twitter.com/blitzkreigm/status/1475310523960815622">denied</a> reports of acquiring a stake in RBL Bank. SEE ALSO: <a href="https://www.businessinsider.in/stock-market/news/rbl-bank-zee-entertainment-hp-adhesives-and-adani-transmission-among-hot-stocks-on-december-27/slidelist/88514134.cms">RBL Bank, Zee Entertainment, HP Adhesives, and Adani Transmission among hot stocks on December 27</a> <a href="https://www.businessinsider.in/finance/news/income-tax-department-raids-xiaomi-oppo-and-oneplus-offices-in-india/articleshow/88432807.cms">Income Tax department reportedly raids Xiaomi, Oppo and OnePlus offices in India</a> <a href="https://www.businessinsider.in/finance/banks/news/heres-why-axis-bank-may-be-willing-to-pay-2-billion-to-buy-citis-india-ops/articleshow/88407858.cms">Here’s why Axis Bank may be willing to pay $2 billion to buy Citi’s India ops</a>

RBL Bank slumps 20% after CEO goes on leave

Globally Wharton, Yale and <keyword id="53675" type="ORGANIZATION" weightage="20" keywordseo="harvard">Harvard</keyword> are the best known institutes whose students believe in giving back pickups once they are established in their life. And the trend seems to be catching up well with Indian business schools as well. This month, IIM-Ahmedabad has raised Rs 7.5 crore from its alumni <keyword id="186752" type="PERSON" weightage="20" keywordseo="Vishwavir-Ahuja">Vishwavir Ahuja</keyword>, managing director of <keyword id="2179992" type="UNKNOWN" weightage="20" keywordseo="RBL-Bank">RBL Bank</keyword>, and Aprameya R and <keyword id="491843" type="PERSON" weightage="20" keywordseo="Raghunandan-G">Raghunandan G</keyword>, cofounders of TaxiForSure, to support infrastructure funding, according to an ET news report. "Alumni response has been overwhelming,” <keyword id="4796652" type="UNKNOWN" weightage="20" keywordseo="ajit-k-motwani">Ajit K Motwani</keyword>, head of the development office at IIM-A told ET. What helped was director <keyword id="1588161" type="UNKNOWN" weightage="20" keywordseo="Ashish-Nanda">Ashish Nanda</keyword>'s Harvard background, which helped foster the culture of alumni giving. The largest individual contribution was Rs 11 crore by an anonymous IIM-A graduate to support heritage campus infrastructure and entrepreneurship scholarships, reports ET. . "IIM-B has now entered a phase of high growth. The second campus is coming up in Jigani in <keyword id="6354321" type="CITY" weightage="20" keywordseo="Bengaluru">Bengaluru</keyword>. In this growth and expansion, alumni and corporate funding will play a significant role,” VK Menon, chief marketing and development officer at IIM-Bangalore told ET. "Alumni have volunteered funds toward construction of a swimming pool, introducing IIM Calcutta Case Research Centre, instituting scholarships and awards and commissioning the proposed sports complex”, <keyword id="4796653" type="UNKNOWN" weightage="20" keywordseo="uttam-kumar-sarkar">Uttam Kumar Sarkar</keyword>, dean of new initiatives and external relations at <keyword id="87135" type="COMPANY" weightage="20" keywordseo="IIM-Calcutta">IIM-Calcutta</keyword> told the financial daily.

IIM students are donating back to the institutes after graduating. Here’s how

<keyword id="19483" type="ORGANIZATION" weightage="100" keywordseo="IIM-ahmedabad">IIM Ahmedabad</keyword> just raised Rs 7.5 crore from alumni Raghunandan G, <keyword id="186752" type="PERSON" weightage="20" keywordseo="Vishwavir-Ahuja">Vishwavir Ahuja</keyword> and Aprameya. While conservation, restoration and upgrade of the classrooms in the Heritage Campus is being supported by RBL Bank (Vishwavir Ahuja is the MD &amp; CEO of RBL bank), CR2 upgradation to state-of-art facility and maintenance at IMDC in the <keyword id="4731025" type="UNKNOWN" weightage="20" keywordseo="iim-a-new-campus">IIM-A New Campus</keyword> is being supported by co-founders of TaxiForSure — Raghunandan G and Aprameya R (PGP 2007 and 2008) — with funding of Rs 2.5 crore each. “RBL has significantly benefited from the quality education imparted at IIMA through several IIMA Alumni in the senior management team. RBL has always focused on excellence in the banking industry and is delighted to make a contribution of Rs 2.5 Crore for shared vision to support education excellence at IIM-A,” said Vishwavir Ahuja. Meanwhile, IIM-A director Prof Ashish Nanda said - “Alumni are a source of strength for the institute. They contribute in many different ways to support the Institute’s priorities. IIM-A deeply values their meaningful and significant contributions.” “Contributing to IIM-A is a proud moment for us as we owe so much of our success to this institute. Having graduated from this great institute, opened doors for us through our entrepreneurial journey. We could connect with IIMA alumni in the startup eco system who were strong guides during our TaxiForSure story and in fact, were our source of strength and also the worst critics to ensure that we always did the right thing,” said Raghunandan G and Aprameya R.

IIM Ahmedabad just raised Rs 7.5 crore from alumni

Mumbai, Jan 22 () Exposures to stressed corporates continued to haunt small-sized private sector lender RBL Bank which reported a massive 69 per cent dip in its December quarter net profit at Rs 69.9 crore on Wednesday.
 The bank, which had disclosed a Rs 1,800 crore exposure to a set of stressed corporates earlier, said Rs 710 crore out of that slipped into non performing assets, forcing it to increase provisions.
 The overall provisions shot up to Rs 630 crore from Rs 160 crore in the year-ago period and the bank's managing director and chief executive Vishwavir Ahuja told that it has set aside more money than regulatory mandated.
 Another Rs 290 crore of the stressed pool is yet to be recognised, Ahuja said, adding there is no hope to avoid the slippage which will be done in the fourth quarter.
 However, total income increased to Rs 2,644.30 crore as against Rs 1,029.20 crore for the same period year ago.
 Asset quality of the bank deteriorated with gross non-performing assets (NPAs) rising to 3.33 per cent of gross advances as on December 31, 2019 from 1.38 per cent in the year-ago period.
 Net NPAs also rose to 2.07 per cent of net loans from 0.72 per cent in the corresponding quarter of 2018-19, the bank said.
 Ahuja said that there is no change in the management commentary since it came out with the disclosure the first time, and stressed that apart from these reverses, the bank's other verticals are working normally.
 Its net interest income increased 41 per cent to Rs 922.6 crore on a margin expansion to 4.57 per cent and despite a nearly halving of the credit growth from the trend to 20 per cent. Ahuja said it will close the fiscal with a loan growth in "mid-20s" per cent.
 Retail credit grew 42 per cent and now occupied 51 per cent of the book, while corporate grew only 3 per cent as the bank gets cautious. The bank, which raised Rs 2,700 crore of capital last month, closed the quarter with a total capital adequacy of 15.66 per cent.
 The bank scrip closed 0.67 per cent down at Rs 339.10 a piece on the BSE, as against a 0.50 per cent correction on the benchmark index Sensex. AA MR
MR

RBL Bank Q3 Net plunges 69pc due to high provisions

New Delhi, Dec 6 () RBL Bank on Friday said it has raised Rs 2,025.27 crore from institutional investors through a qualified institutional placement offering (QIP) and will utilise the proceeds to fund business growth.
 In a statement RBL Bank said "it has successfully concluded the QIP of Rs 2,025 crore at an issue price of Rs 351 per share (including premium of Rs 341) pursuant to the allotment of 5.77 crore equity shares."
 QIP is a tool used by listed companies to sell shares, debentures, or any other security, other than warrants that are convertible into stocks, to qualified institutional buyers such as mutual funds and foreign institutions.
 "This capital infusion significantly enhances our capital adequacy, and positions us well to capitalise on the various growth opportunities available to us, especially as economic growth returns to normal," RBL Bank MD and CEO Vishwavir Ahuja said.
 "The QIP increases the bank's total capital adequacy ratio to 15.3 per cent, core equity tier I ratio to 14.3 per cent, enabling the bank to remain capitalised well above the regulatory limits," the statement said.
 The issue saw strong demand from domestic as well as foreign qualified institutional buyers (QIBs), the statement said.
 The shares of RBL Bank were trading at Rs 363.65, down 0.48 per cent on BSE in the morning trade. SID DRR

RBL Bank raises Rs 2,025 cr through QIP

<ul><li>At 7:45 am, the SGX Nifty was up 0.11% at 8.72 points pointing towards a higher start for the Nifty50.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Indian stock-market indices are likely to open in green on Monday, on the back of positive cues from the Asian markets. At 7:45 am, the SGX Nifty was up 0.11% at 8.72 points pointing towards a higher start for the Nifty50. The Hang Seng Index was also trading 2% higher. These are the stocks to watch out for during the trading session on Monday: Reliance Industries and Future Enterprises Mukesh Ambani owned Reliance Industries on Saturday announced that it had acquired the retail, wholesale, logistics and warehousing business of Kishore Biyani’s Future Group for a lump sum aggregate consideration of ₹24,713 crore. The news may move other Future Group subsidiaries — Future Retail, Future Lifestyle Fashions and Future Consumer— shares as well. The shares of Future Enterprises ended 5% higher on Friday, whereas RIL was trading almost flat. HCL Technologies According to <a href="https://economictimes.indiatimes.com/tech/ites/hcls-us-arm-faces-patent-infringement-claim-related-to-one-of-its-software-products/articleshow/77837559.cms">news reports</a>, HCL Technologies American arm HCL America is facing a patent infringement claim related to one of its software products. The reports suggest that HCL America is due to respond to the lawsuit filed by a<a href="https://economictimes.indiatimes.com/tech/ites/hcls-us-arm-faces-patent-infringement-claim-related-to-one-of-its-software-products/articleshow/77837559.cms"> Texas-based company, Coretek Licensing, by September 28.</a> The shares of HCL Technologies ended nearly a percent lower on Friday. ITC FMCG major ITC on Friday informed stock-exchanges that it is considering merging three of its wholly-owned subsidiaries —- Sunrise Foods, Hobbits International Foods and Sunrise Sheetgrah — with the parent company. The company said its board would meet on September 4 to consider the proposal. The shares of ITC ended nearly a percent higher on Friday. Indiabulls Ventures Indiabulls Ventures on Friday told stock-exchanges that it would raise nearly ₹588 crore via share sale to a clutch of investors. In the filing, the company said it would issue 33.6 million shares, representing about 5.5% shareholding, to six investors. The shares of Indiabulls Ventures ended nearly 8% higher on Friday. RBL Bank RBL Bank in a BSE filing told investors that the Bank MD and CEO Vishwavir Ahuja sold nearly 18,92,900 shares on August 27-28 for ₹38.52 crore. The Bank said Ahuja sold his shares to service personal debt obligation and to meet some family commitments. The shares of RBL Bank ended nearly 5% higher on Friday. Inox Wind Inox Wind on Friday reported a net loss of ₹73 crore for the quarter ended June 30. The company’s revenue from operations fell to ₹97 crore from ₹260 crore in the same quarter last year. The board of Inox Wind approved raising ₹200 crore via issue of securities. The shares of Inox Wind ended nearly 4% lower on Friday. SEE ALSO: <a href="https://www.businessinsider.in/finance/news/from-bank-of-india-and-axis-bank-to-franklin-and-kotak-mutual-fund-lenders-will-vie-for-their-pound-of-flesh-from-the-ambani-biyani-deal/articleshow/77837207.cms" data-type="tilCustomLink">From Bank of India and Axis Bank to Franklin and Kotak Mutual Fund⁠— lenders' will vie for their pound of flesh from the Ambani-Biyani deal</a> <a href="https://www.businessinsider.in/stock-market/news/a-wall-street-chief-strategist-details-4-reasons-why-big-company-profits-have-been-remarkably-resilient-during-the-pandemic-and-explains-how-thats-helped-the-red-hot-stock-rally/articleshow/77836330.cms" data-type="tilCustomLink">A Wall Street chief strategist details 4 reasons why big-company profits have been remarkably resilient during the pandemic — and explains how that’s helped the red-hot stock rally</a>

You Searched For "Vishwavir Ahuja" and got 6 results

RBL Bank slumps 20% after CEO goes on leave

Rounak Jain

IIM students are donating back to the institutes after graduating. Here’s how

BI India Bureau

IIM Ahmedabad just raised Rs 7.5 crore from alumni

Anushree Singh

RBL Bank Q3 Net plunges 69pc due to high provisions

PTI

RBL Bank raises Rs 2,025 cr through QIP

PTI

Top stocks to watch in trade— RIL, Future Enterprises, HCL Technologies, Future Retail, ITC, Indiabulls Ventures, RBL Bank, Inox Wind and more

Navdeep Yadav

Popular Keywords

Buying Guides