Dhanlaxmi Bank to send candidates’ list for MD & CEO post next week

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November 17, 2020 6:30 AM

RBI had approved an interim arrangement for the formation of a committee of directors to exercise the powers of MD & CEO till such time a new person takes charge.

G Subramania Iyer is the chairman of the COD , PK Vijayakumar and G Rajagopalan Nair are the other members.G Subramania Iyer is the chairman of the COD , PK Vijayakumar and G Rajagopalan Nair are the other members.

Dhanlaxmi Bank on Monday said it would send the list of shortlisted candidates for the post of MD and CEO to the regulator Reserve Bank of India (RBI) next week.

The Kerala-based bank is now managed by a committee of directors (COD) after shareholders voted out its MD and CEO in October. G Subramania Iyer is the chairman of the COD, PK Vijayakumar and G Rajagopalan Nair are the other members.

RBI had approved an interim arrangement for the formation of a committee of directors to exercise the powers of MD & CEO till such time a new person takes charge.

The approval of the regulator had also mentioned that the interim arrangement would not continue beyond four months within which the bank would complete the process of identification and appointment of a new MD .

Regarding reports that ousted MD and CEO Sunil Gurbaxani will be re-reinstated by the RBI, bank sources said it didn’t want to comment on a speculative story and added that all decisions had been made with the approval of RBI.

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