RBL Bank - Ratings Under Review; Remain In Wait And Watch Mode: Motilal Oswal
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Motilal Oswal Report
The Reserve Bank of India under Section 36AB of the Banking Regulation Act has appointed Mr. Yogesh K. Dayal, Chief General Manager, RBI, as an additional director to RBL Bank Ltd.’s board for a two-year period, with immediate effect.
RBL Bank's board has also accepted the request of Mr. Vishwavir Ahuja – Managing Director and Chief Executive Officer – to proceed on leave with immediate effect and appointed Mr. Rajeev Ahuja (currently the Executive Director) as interim MD and CEO, subject to regulatory and other approvals.
These developments have come as a negative surprise, and raises concerns on the bank's performance as perceived by the central bank and its ability to deliver on its guidance.
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