"It is informed that Sunil Gurbaxani has taken charge as Managing Director & CEO of the Bank with effect from February 27, 2020," the bank said in a regulatory filing.
Gurbaxani has been appointed as MD&CEO of the bank for a period of three years from the date of taking charge pursuant to RBI approval, it said.
He has 35 years of banking experience with State Bank of Bikaner & Jaipur (now State Bank of India) and Axis Bank and handled various roles and responsibilities including operations head, Assistant General Manager, Assistant Vice President, Vice President, Senior Vice President and Executive Vice President.
Gurbaxani is an MBA degree and a post-graduate in Economics and has also passed the CAIIB from the Indian Institute of Bankers.
He replaces T Latha, who resigned on October 30, 2019 due to personal reasons.
The lender was also amongest the RBI's Prompt Corrective Action (PCA) framework and was removed from the list by the regulator in February 2019 subject to certain conditions and continuous monitoring,
Shares of the bank closed 1.18 per cent down at Rs 14.20 on BSE. KPM MRMR