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Dhanlaxmi Bank Board approves appointment of Shivan as MD and CEO

Earlier, RBI had asked the lender's board to get shareholders' approval before appointing Shivan as the next MD and CEO

Dhanlaxmi Bank
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The bank is currently managed by a committee of directors | File photo

T E Narasimhan Chennai
Board of Directors of Kerala-based Dhanlaxmi Bank have given approval to appoint J K Shivan as managing director and CEO of the Bank. 

It may be recalled that the shareholders of the Kerala-based had voted against MD & CEO Sunil Gurbaxani On September 30, 2020. Then, in December that year, the lender appointed Shivan as the new MD & CEO. However, the banking regulator, Reserve Bank of India (RBI), had asked the Dhanlaxmi Bank Board to get shareholders’ approval before appointing J K Shivan as the next chief of the bank.

According to experts, RBI's direction was unusual since the board typically

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First Published: Jan 26 2021 | 3:19 PM IST

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