RBI approves former IOB chief Subramaniakumar as CEO of RBL Bank

The Reserve Bank of India (RBI) has approved R Subramaniakumar’s appointment as the MD & CEO of RBL Bank, the private lender told exchanges.

Subramaniakumar is a former managing director and chief executive director of state-run Indian Overseas Bank, retiring on June 30, 2019. He was appointed the administrator of Dewan Housing Finance Co Ltd after the mortgage financier’s board was superseded.

Subramaniakumar has been appointed at RBL for three years from the date of taking charge.

“a meeting of the Board of Directors of the Bank will be convened in due course upon the completion of requisite formalities, inter alia to approve the appointment of Mr. R Subramaniakumar as an Additional Director and as the Managing Director & CEO of the Bank and the approval of the shareholders shall be obtained thereafter as per the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations,” RBL said.

A banker with 40 years of experience, Subramaniakumar started his career with Punjab National Bank. He headed business transformation at PNB for 3 years and transformed several businesses including digital, human resource, MSME, retail, among others.

Last year in December, RBL’s then MD & CEO Vishwavir Ahuja went on indefinite leave. Executive director Rajeev Ahuja was appointed as interim Managing Director & Chief Executive Officer.

Ahuja’s went on leave came after RBI appointed one of RBL’s chief general managers, Yogesh Dayal, on the lender’s board as additional director.

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