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'Keep in abeyance' non-independent director Arun Rao's appointment:RBI to Dhanlaxmi Bank

Press Trust of India  |  New Delhi 

today said the RBI has asked it to keep in abeyance, till further advice, the appointment of non-Rao M.G.

Earlier on May 15, the had announced the appointment of Rao as a new additional non-on its board. Also, it had said that the G resigned the same day.

"It is hereby informed that of India vide...letter dated May 16, 2018, has advised the bank that the proposal for the appointment of Rao M G as a on the board of the bank may be kept in abeyance, till further advice," said in a regulatory filing.

However, the bank has not provided any reason for the RBI advice given to it with regard to the appointment.

The NPA-hit private sector lender, which was supposed to declare its quarterly and yearly results for fiscal ended March 2018 on May 15, has deferred it to May 23, 2018, citing "better representation on conservative basis".

The bank had posted a net loss in the third quarter ended December 2017-18 at Rs 21.74 crore, which had widened from year ago's net loss of Rs 8.18 crore.

In the quarter, it had witnessed a meagre profit of Rs 6.06 crore.

Stock of traded at Rs 18.95 on the BSE, down 3.41 per cent from the previous close.

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Thu, May 17 2018. 16:30 IST