DHFL's Administrator R Subramaniakumar Is the New MD & CEO of RBL Bank
Moneylife Digital Team 13 June 2022
Reserve Bank of India (RBI) on 10th June approved the appointment of R Subramaniakumar as managing director and chief executive officer (MD & CEO) of RBL Bank for three years. Mr Subramaniakumar was the administrator of Dewan Housing Finance Corp Ltd (DHFL), which achieved a resolution.
 
RBL Bank, in a regulatory filing, says its board of directors has taken on record the letter sent by RBI for approving the appointment of Mr Subramaniakumar. "...a meeting of the board of directors of the Bank will be convened in due course upon the completion of requisite formalities, inter alia to approve the appointment of Mr Subramaniakumar as an additional director and as the MD & CEO of the Bank and the approval of the shareholders shall be obtained thereafter as per the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations," the lender says.
 
Mr Subramaniakumar is a veteran banker with 40 years of experience. His banking career started in 1980 with Punjab National Bank (PNB), where he headed the Bank's business transformation department for three years. 
 
He was an executive director at Indian Bank and Indian Overseas Bank. He also held the position of MD & CEO of Indian Overseas Bank. He is an independent director of the UC Pension Fund Ltd.
Comments
Kamal Garg
2 months ago
RBI only approved the proposal sent by the Bank. So the question is why RBL Bank Board considered it appropriate to appoint R. Subramaniakumar as its MD and CEO, in the first place. Is he the same person who gave the approval to 'value' all fraud loans at DHFL to be valued at Re. 1 by the resolution applicant, i.e. PEL. What is great in such resolutions?
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