RBI approves appointment of CoD to run Dhanlaxmi Bank till appointment of CEO

The Reserve Bank of India (RBI) has approved a three-member interim committee of directors (CoD), to run the private sector lender, Dhanlaxmi Bank, in the capacity of the Managing Director & CEO till a new MD & CEO takes charge.
This decision was taken after the shareholders voted out the bank’s MD and CEO Sunil Gurbaxani on 30 September 2020.
The committee of directors (CoD) has G Subramonia Iyer as its Chairman, while G Rajagopalan Nair and P K Vijayakumar are its other two members.
However, RBI has approved this interim arrangement for only four months, within which the bank will have to complete the process of identification and appointment of a new Managing Director & CEO.