Kerala-based Dhanlaxmi Bank is likely to propose a new candidate for part-time chairman in the coming weeks after the Reserve Bank of India (RBI) rejected the lender’s previous proposal to appoint G Rajagopalan Nair.
“The bank has assured the regulator that it will send the new recommendation soon, probably within the next few weeks,” said the unnamed source. According to the person, the assurance was given after the RBI inquired about the status of the process to select a new part-time chairman.
Since G Subramonia Iyer’s resignation in December 2021, the Kerala-based bank has been without a chairman. Iyer resigned for urgent and emergent domestic and personal reasons. In February 2021, he was appointed as a part-time chairman. Sajeev Krishnan, his predecessor, also resigned in June 2020, citing personal reasons.
Aside from that, several senior-level departures from the Dhanlaxmi Bank board of directors have occurred in recent years.
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The board now includes Managing Director and CEO Shivan JK and as well as RBI-appointed Additional Directors DK Kashyap and Jayakumar Yarasi. G Rajagopalan Nair, CK Gopinathan, KN Madhusoodanan, Sreesankar Radhakrishnan, Nirmala Padmanabhan, Sridhar Kalyanasundaram, and Vardhini Kalyanaraman are among the other directors.
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