RBL Bank Reappoints R Subramaniakumar as MD & CEO for Three-Year Term
RBL Bank announced that its board of directors has reappointed R Subramaniakumar, the current Managing Director and Chief Executive Officer (MD and CEO) of the bank, for a three-year term, effective June 23, 2025.
The reappointment is, however, subject to approval from the Reserve Bank of India (RBI). The bank has said it will make an application to the RBI seeking approval for reappointing Subramaniakumar as MD and CEO for a further period of three years under Section 35B of the Banking Regulation Act, 1935.
Subramaniakumar was initially appointed for a period of three years as MD and CEO of the bank in June 2022, making him the second public sector banker after Prashant Kumar to head a private sector bank.
Before joining RBL Bank, Subramaniakumar was appointed as the administrator for Dewan Housing Finance Corporation Ltd (DHFL), which was the first non-banking finance company to be referred to the National Company Law Tribunal (NCLT) for resolution. DHFL was later acquired by the Piramal Group through the insolvency process. Previously, he also headed the state-owned Indian Overseas Bank.
Subramaniakumar was appointed as the MD and CEO of RBL Bank at a time when the RBI had appointed an additional director to the bank’s board and placed the previous MD and CEO, Vishwavir Ahuja, on leave due to concerns about the bank's financial health.