RBI approved Interim panel to run operations in Dhanlaxmi Bank
New Delhi: The Reserve Bank of India on Thursday approved a three-member panel till the New managing director (MD), and chief executive officer (CEO) take charge. The committee of directors will be constituted with Shri. G. Subramonia lyer as chairman, G. Rajagopalan Nair and P.K Vijayakumar as members.
The RBI states that the interim arrangement will not continue beyond four months, the bank mentions in its regulatory filing. On Thursday it is mentioned that its shareholders have approved raising the authorized share capital of the bank to ?400 crore from ?300 crore earlier.
The increase in the limit is consequent to alteration to the Memorandum & Articles of Association of the bank, subject to the approval of the Reserve Bank of India, it said. The All India Bank Employees' Association (AIBEA) in a letter to the RBI governor claimed the bank is looking to change its business profile, expand network in northern India and hire senior people on contractual basis at high remuneration which could land it into problems, according to report.
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