Mumbai: The Reserve Bank of India (RBI) has approved reappointment of RBL Bank’s chief executive Vishwavir Ahuja for a period of one year, instead of the three-year term sought by the bank. “…we wish to inform you that the approval from the Reserve Bank of India (RBI) has been received for the re-appointment of Vishwavir Ahuja as the managing director and chief executive officer of the bank, for further period of one year, with effect from 30 June. Prior to joining RBL Bank, Ahuja was the managing director and chief executive of Bank of America in India from 2001 to 2009. In April, RBI announced capping the tenure of managing directors, chief executives and whole-time directors of private banks at 15 years from the date of appointment. Following the recommendation of the Nomination and Remuneration Committee, the board of RBL bank had, in January, approved the reappointment Ahuja for three years, with effect from 30 June 2021 to 29 June 2024.

Source: Mint June 04, 2021 16:18 UTC