Lakshmi Vilas Bank reappoints Parthasarathi Mukherjee as its MD for two more years


Parthasarathi_MukherjeePrivate sector lender Lakshmi Vilas Bank has reappointed Parthasarathi Mukherjee as its managing director for two more years.

Mukherjee’s extended term will begin January 25. The bank’s board took the decision on the reappointment on Wednesday.

The reappointed has received the final approval from the Reserve Bank of India (RBI). The lender is going through a critical phase as its growth experienced a decline due to lack of capital. Potential investors in the lender are delaying their decisions on funding as the bank is required to make higher provisions for loan losses.

It is trying to raise Rs 2000 crore from its investors.

The lender is planning to issue up to 15 crore equity shares in a bid to mobilise equity capital and raise capital adequacy ratio, which dropped to 9.67 percent at the end of September from 10.57 percent a year ago.


The Banking & Finance Post is an initiative of Elets Technomedia Pvt Ltd, existing since 2003.
Now, Elets' YouTube channel, a treasure of premier innovation-oriented knowledge-conferences and awards, is also active. To Subscribe Free, Click Here.

Get a chance to meet the Who's who of the NBFCs and Insurance industry. Join Us for Upcoming Events and explore business opportunities. Like us on Facebook, connect with us on LinkedIn and follow us on Twitter, Instagram & Pinterest.