RBL Bank Interim Chief Says Fundamentals Are Intact

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RBL Bank Interim Chief Says Fundamentals Are Intact

Amid RBL Bank chief Vishwavir Ahuja stepping down, the lender has said its fundamentals are intact

Amid speculations about the financial health of RBL Bank, a day after its managing director and CEO Vishwavir Ahuja stepped down and Rajeev Ahuja was made interim chief, the lender said on Sunday that it’s business fundamentals were intact with scope for tremendous improvement.

Vishwavir Ahuja’s exit was also followed by the Reserve Bank of India (RBI) appointing its chief general manager Yogesh K Dayal as an additional director on the board of RBL Bank. (Also Read: RBL Bank Chief Vishwavir Ahuja Steps Down, RBI Official Joins Board)

Rajeev Ahuja, the bank’s newly-appointed chief, told reporters that the bank does not anticipate major capital needs in the short term, countering fears of problems in management.

In recent months, it has been reported that some employees of the bank sought the finance ministry’s support to oversee operations as they believed regulatory frameworks were being ignored by the bank’s top management.

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