RBL Bank (formerly Ratnakar Bank) has appointed its existing executive director — Rajeev Ahuja as the interim managing director and CEO in the absence of Vishwavir Ahuja, who has been sanctioned medical leave.

The appointment of Rajeev Ahuja in the new roles will be subject to regulatory and other approvals.

RBL Bank also said that the Reserve Bank of India (RBI) has appointed Yogesh Dayal as an additional director on the board for a period of two years till 23 December 2023 or till further orders, whichever comes earlier.

The Mumbai-based private sector bank said that its capital adequacy was 16.3% and will be in a similar range this quarter.

RBL Bank stated: “These developments are not on account of any concern on advances, asset quality and deposits level of the Bank. We want to allay any concerns any of you may have in this regard. The Bank has the full support of the RBI.

“The Board has elevated an existing member of the management team to the interim MD & CEO role which should allay concerns on the strategy and smooth functioning of the Bank as well as the strength of the overall franchise.”

Recently, RBL Bank was granted authorization from the Reserve Bank of India to collect indirect taxes on behalf of the Indian Central Board of Indirect Taxes and Customs (CBIC).

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