RBI Extends Rajeev Ahuja's Term As RBL Bank's Interim MD & CEO By 3-Months

Private sector RBL Bank on Thursday said the Reserve Bank has granted an extension of three months to its interim MD and CEO Rajeev Ahuja. 

"We wish to further inform that on request of the Bank, RBI vide its letter dated March 17, 2022, has approved the extension of the term of Rajeev Ahuja, interim Managing Director & CEO of the Bank for a further period of three months with effect from March 25, 2022, or till the appointment of a regular MD & CEO, whichever is earlier," RBL Bank said in a regulatory filing.

On December 30, 2021, the private sector lender had said the Reserve Bank had approved the appointment of Ahuja as interim managing director (MD) and CEO for a period of three months with effect from December 25, 2021, or till the appointment of a regular MD and CEO.

Last year in December, in a sudden turn of events, the board of the bank had sent the then MD and CEO Vishwavir Ahuja on leave and elevated Rajeev Ahuja as the interim chief to take care of the day-to-day operations. 

Vishwavir's sudden departure was seen as a result of an RBI communication to the bank on December 24, 2021, appointing its Chief General Manager Yogesh K Dayal to the board of the private sector lender in an unusual move.

Rajeev in his first interaction with media and investors on December 26, 2021, had said the bank was financially sound and had full support from its board of directors and the RBI.