RBL Bank said on Saturday that the Reserve Bank of India (RBI) has approved the appointment of R Subramaniakumar as Managing Director and CEO of the Bank for a three-year term.
Subramaniakumar’s term of office shall commence from the date of his taking over, pursuant to Section 35B of the Banking Regulation Act 1949.
In its regulatory filing, RBL Bank stated that “a meeting of the board of directors of the bank will be convened in due course after the completion of the required formalities, in particular to approve the appointment of R Subramaniakumar as an additional director and as Managing Director, Director and CEO of the Bank.”
R Subramaniakumar is a veteran banker with 40 years of experience. His banking career started at Punjab National Bank (“PNB”) in 1980 and he led business transformation at PNB for 3 years and transformed the business in particular, Digital Operations, HR, MSMEs, retail and overseas, etc.
He has worked with many renowned public banks. He served as Executive Director of Indian Bank and Indian Overseas Bank. He also served as Managing Director and CEO of Indian Overseas Bank. In addition, he was a director at Dewan Housing Finance Corporation Limited (“DHFL”), a housing finance company, and obtained its resolution. Subramaniakumar was also an independent director of the UC pension fund.
Subramaniakumar graduated in Physics with PGDCA (Graduate Diploma in Computer Application). He acquired CISA (Certified information system audit) & CISM (Certified information security manager) from ISACA, USA. Banker at CAIIB. He also holds an Advanced Banking Certificate from the University of Maryland, USA.
On Friday, RBL Bank shares closed at ₹113.35 each down 0.44% on BSE.
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