Investors approach RBI to purchase stake in RBL Bank

Mumbai: According to a media source, several well-known investors have lined up to buy a stake in RBL Bank and have sought approval from the Reserve Bank. According to the report, the investors approached the RBI with offers to buy a 10 percent interest in the bank.

The Reserve Bank of India named Yogesh Dayal as an Additional Director to the RBL Bank's Board of Directors on Saturday. In addition, the Board approved Vishwavir Ahuja, the bank's CEO, going on medical leave and named Rajeev Ahuja, the bank's current Executive Director, as Interim Managing Director and CEO, subject to regulatory and other approvals.

"We would like to emphasize that these developments are in no way a reflection on the Bank's fundamentals," the bank said in a statement on Sunday. "As we have been communicating to all of you, business momentum and financial performance have been increasing since the second quarter of this fiscal year as we recovered from the pandemic's consequences." The existing management team, led by Rajeev Ahuja, has RBI's full support, according to the report.

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