Who Is R Subramaniakumar, RBL Bank’s new MD & CEO

New Delhi: The RBL Financial institution on Saturday introduced the appointment of veteran banker R Subramaniakumar as its as its new managing director and chief govt officer. “The board of administrators has accredited the appointment of R Subramaniakumar as Managing Director & CEO of the financial institution for a interval of three years with impact from date of his taking cost, beneath Part 35B of the Banking Regulation Act 1949,” the personal lender mentioned in a press release. Subramaniakumar has been appointed to helm RBL for 3 years from the date of taking cost.Additionally Learn – 5 Triggers That Might Dictate Indian Share Market This Week | Know Right here

Subramaniakumar’s appointment got here almost six months after RBL Financial institution’s long-term MD and CEO Vishwavir Ahuja had stepped down In December 2021. Following Ahuja’s exit, Rajeev Ahuja was appointed to helm lender for an interim interval — which was scheduled to run out on June 24. Additionally Learn – Prime 7 Personal Banks Supply 6% To 7% Curiosity Fee On Mounted Deposits For Senior Residents | Full Record Right here

Subramaniakumar’s appointment because the RBL Financial institution chief comes within the backdrop of the financial institution reporting a web lack of Rs 74.74 crore in FY2022, as towards a revenue of Rs 50.77 crore in FY2021. The RBL financial institution had additionally reportedly come beneath regulatory lens, with the RBI, in December 2021, appointing its chief basic supervisor Yogesh Okay Dayal as a further director of the personal lender for 2 years. Additionally Learn – Rupee Hits New Low Amid FII Promote-Off, Excessive World Crude Oil Costs

Who’s R Subramaniakumar?

• Subramaniakumar, who’s the previous managing director and chief govt director of state-run Indian Abroad Financial institution, has an expertise of over 40 years within the banking business.
• His profession began with Punjab Nationwide Financial institution (PNB) in 1980, the place he labored for 35 years and ultimately rose as the pinnacle of enterprise transformation. He additionally served as an govt director at Indian Financial institution.
• The Reserve Financial institution of India has notably appointed him as administrator of Dewan Housing Finance Company Restricted (DHFL) after the mortgage financier’s board was outdated.
• He’s additionally an impartial director of the LIC Pension Fund Restricted.

“A gathering of the Board of Administrators of the Financial institution might be convened in the end upon the completion of requisite formalities, inter alia to approve the appointment of Mr. R Subramaniakumar as an Extra Director and because the Managing Director & CEO of the Financial institution and the approval of the shareholders shall be obtained thereafter as per the relevant provisions of the Corporations Act, 2013 and SEBI Itemizing Laws,” RBL mentioned.