RBL Bank Will Be Sold To Private Investors? Rakesh Jhunjhunwala Wants To Buy 10% Share
A lot of developments occurred around the private lender RBL Bank over this weekend.
It started with the central regulator RBI intervening with RBL Bank’s management, by appointing its chief general manager, Yogesh K Dayal as an additional director on the lender’s board for a period of 2 years, on Dec 24.
Following this on Dec 25, the managing director and chief executive officer since 2010, Vishwavir Ahuja exited his position, just six months before the end of his term.
According to RBL Bank’s regulatory filing on December 25, the lender’s board appointed Rajeev Ahuja, its current executive director, as the interim MD & CEO of the bank with immediate effect.
A day later, ace investor Rakesh Jhunhunwala and RK Damani, D-Mart’s founder approached RBI to request buying 10% stake in the private lender.
RBL Bank’s MD & CEO Quits Position
In a sudden exit marked on Christmas, RBL Bank made two big disclosures.
The first one being its MD & CEO since almost 12 years, Vishwavir Ahuja stepping down from his position, followed by the bank’s board appointed its executive director Rajeev Ahuja as the interim MD & CEO with immediate effect.
Ahuja is currently awaiting RBI’s approval over his new position.
The new CEO of the bank stated that it is well capitalised and does not have any immediate capital requirements, adding that it will continue with its investments.
The bank does not need capital for the next eight to 12 months, Ahuja added. “We are going to accelerate many of our investments in technology”.
Rakesh Jhunjhunwala and RK Damani on RBL Bank
Ace investor Rakesh Jhunhunwala and RK Damani, D-Mart’s founder approached the RBI to request buying a 10% stake in the private lender, as per a CNBC TV-18 report.
RBI is currently examining their request.
The central bank appointed its chief general manager, Yogesh K Dayal as an additional director on RBL Bank’s board for a period of 2 years, with effect from Dec 24.