ICRA places RBL Bank ratings under watch with developing implications

Rating agency ICRA has placed RBL Bank’s long-term rating (bonds “AA-”) and medium-term ratings (fixed deposits “AA”) on watch with developing implications.

This follows events like to its Managing Director & Chief Executive Officer (MD& CEO) Vishwavir Ahuja going on medical leave, RBI appointing its nominee director on board of a private lender. Rajeev Ahuja was also appointed as the interim MD & CEO, who was serving as the executive director of the bank.

ICRA will continue to monitor the developments related to the deposit levels as this could have a material impact on the liquidity position of the bank.