RBI approves Ajith Kumar’s appointment as Dhanlaxmi Financial institution chief

The Reserve Financial institution of India has permitted the appointment of Ajith Kumar Ok.Ok because the Managing Director & CEO of Dhanlaxmi Financial institution for 3 years with impact from the date of taking cost.

Presently, Kumar is the Chief Human Sources Officer in Federal Financial institution within the cadre of President.

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The personal sector financial institution, in a regulatory submitting, mentioned a gathering of its Board of Administrators can be convened sooner or later to approve the aforementioned appointment. Approval of the shareholders can be obtained thereafter as per the regulatory provisions.

Kumar has over 36 years of expertise with the Federal Financial institution in varied aspects of banking together with Credit score, Human Sources, Enterprise, Department Banking and so on.

In January 2024, the RBI had conveyed its approval for extending the time period of J Ok Shivan as Managing Director & CEO of the Financial institution until his successor assumes the workplace.

The appointment of Kumar comes at a time when the Financial institution is planning a Rights Difficulty of as much as ₹300 Crore (together with premium) to the eligible Shareholders.