R Subramaniakumar appointed as MD & CEO of RBL Bank

Reserve Bank of India (RBI) has appointed R Subramaniakumar as the MD & CEO of RBL Bank. He has been appointed at RBL for three years from the date of taking charge. He is a former managing director and chief executive director of state-run Indian Overseas Bank. He was appointed the administrator of Dewan Housing Finance Co Ltd after the mortgage financier’s board was superseded.

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About the R Subramaniakumar:

• Subramaniakumar’s tenure will begin from the date of his taking charge, under Section 35B of the Banking Regulation Act 1949.
• Subramaniakumar’s appointment came nearly six months after RBL Bank’s long-term MD and CEO Vishwavir Ahuja had stepped down In December 2021.
• Subramaniakumar’s appointment as the RBL Bank chief comes in the backdrop of the bank reporting a net loss of Rs 74.74 crore in FY2022, as against a profit of Rs 50.77 crore in FY2021.
• The RBL bank had also reportedly come under regulatory lens, with the RBI, in December 2021, appointing its chief general manager Yogesh K Dayal as an additional director of the private lender for two years.

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