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

New Delhi, Feb 27 () Private sector Dhanlaxmi Bank on Thursday said its new managing director and CEO Sunil Gurbaxani has taken charge from February 27."It is informed that Sunil Gurbaxani has taken charge as Managing Director &amp; CEO of the Bank with effect from February 27, 2020," the bank said in a regulatory filing.Gurbaxani has been appointed as MD&amp;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 &amp; 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

Dhanlaxmi Bank MD & CEO Sunil Gurbaxani takes charge

<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

New Delhi, Apr 17 () Banking and financial stocks were in high demand on Friday, advancing up to 21 per cent after the Reserve Bank announced a host of liquidity-boosting measures to support the economy amid the coronavirus crisis. Axis Bank zoomed 13.45 per cent, ICICI Bank rose by 9.89 per cent, IndusInd Bank 9.13 per cent, Federal Bank 9 per cent, City Union Bank 5.39 per cent and Kotak Mahindra Bank 4.96 per cent on the BSE. Axis Bank was the top gainer in the Sensex pack. Also, HDFC Bank jumped 3.33 per cent, RBL Bank 3.22 per cent and SBI 2.49 per cent. Led by the rally in these scrips, the BSE Bank index rose by 6.83 per cent. Likewise, from the finance pack, Equitas Holdings zoomed 21.15 per cent, Shriram Transport Finance Company 20 per cent, J&amp;K Bank 19.95 per cent, Indiabulls Housing Finance 17.61 per cent, Dhanlaxmi Bank 17.51 per cent, DCB Bank 16.54 per cent, Ujjivan Financial Services 14.54 per cent and Cholamandalam Investment and Finance Company 11.33 per cent. The BSE Finance index gained 5.44 per cent. "Given the unprecedented times we are in, it is heartening that RBI is addressing all these challenges at a war footing. We believe the key measures announced by RBI will help inject the much needed liquidity in the system, facilitate and incentivise credit flow and provide flexibility on regulatory forbearance. Markets are in buying zone," according to Motilal Oswal, MD and CEO of Motilal Oswal Financial Services. In the broader market, the 30-share BSE Sensex ended 986.11 points or 3.22 per cent higher at 31,588.72. "The RBI's announcement has correctly focused on the financial sector, specifically the NBFCs. However, given the current macro conditions, we need to watch how the banks utilize the various windows and options given by the RBI to assess whether credit growth increases and the extent of support that the NBFC sector gets," said Suvodeep Rakshit, Vice President and Senior Economist, Kotak Institutional Equities. The RBI on Friday further eased bad-loan rules, froze dividend payment by lenders and pushed banks to lend more by cutting the reverse repo rate by 25 basis points, as it unveiled the second set of measures to support the economy hit hard by the coronavirus-led slowdown. In his second televised address since the nationwide lockdown began from March 25, the Reserve Bank of India (RBI) Governor Shaktikanta Das pledged to boost liquidity and expand bank credit. Other interest rate-sensitive indices like auto and realty also closed with significant gains. "NBFCs are clear beneficiaries of these measures. For investors in banks, the provision of higher liquidity and relaxation in provisioning norms are welcome, but the bar on dividend distribution and new provisioning norms are negatives for the time being. "While the RBI is doing its part in providing reliefs in the current times, the street could keep expecting more and there could also be some concern about the time it would take for these measures to have an impact at the ground level," said Deepak Jasani - Head Retail Research, HDFC Securities. SUM ABMABM

You Searched For "Dhanlaxmi Bank CEO" and got 3 results

Dhanlaxmi Bank MD & CEO Sunil Gurbaxani takes charge

PTI

RBL Bank slumps 20% after CEO goes on leave

Rounak Jain

Banking, financial stocks zoom up to 21 pc after RBI lift

PTI

Popular Keywords

Buying Guides