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RBL Bank announces change in leadership

News: RBL Bank, in its exchange filing, said that Reserve Bank’s chief general manager Yogesh Dayal has been appointed as additional director on its board; and RBL’s long's term managing director & CEO Vishwavir Ahuja will go on leave with immediate effect. Rajeev Ahuja, the incumbent executive director, been appointed as the interim MD & CEO.

Views: Appointment of additional director is generally done by the regulator for enhanced supervision and especially when the matter pertains to public interest or banking policy. Thus, we believe that RBL Bank could see negative impact even though the management has clarified that the bank remains in good shape.

Impact: Negative