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RBL Bank expands NARCL’s Pradip Shah on search committee to assign new MD & CEO

RBL Bank on Saturday announced that it has expanded National Asset Reconstruction Company Ltd (NARCL) Chairman Pradip Shah as a superficial professional on its investigation council constructed to specify and assess nominees for the role of its MD and CEO.

Previous month, the bank had told that it had comprised an investigation council, comprising of two committee partners, chairman of its appointment and compensation council and a superficial specialist, to specify and assess nominees for the role of MD and CEO both from within and outside the bank.
The bank told in an exchange filing that the Board at its conference clasped on January 15, 2022 has agreed to associate Mr. Pradip Shah, Chairman of NARCL as an External Specialist to operate with the Investigation Committee encompasses Mr. Manjeev Singh Puriand two other Directors, Mr. Ishan Raina and Ms. Veena Mankar.

Moreover, it told its committee, on the suggestion of the investigation council, moreover authorized EgonZehnder as the investigation company for specifying adequate nominees for the position of MD and CEO for the bank, in an immediate manner.

Moreover existing the chairman of NARCL, Shah furthermore fulfills as Chairman of Kansai Nerolac Paints, Sonata Software, BASF India and manager of Bajaj Auto, Pfizer India, Godrej & Boyce and Mane Kancor Ingredients.

On December 25, RBL Bank had notified the trades that the Reserve Bank of India (RBI) had elected its chief general administrator Yogesh K Dayal as an extra manager on the committee of the bank for an interval of two years with consequence from December 24, 2021 till farther commissions, whichever is ahead.

On the similar day, the bank moreover nominated Rajeev Ahuja as it’s as provisional MD and CEO after ratifying the petition of its the again MD and CEO Vishwavir Ahuja to continue on break with sudden consequence.

Stakes of RBL Bank shut 5.26 % elevated at Rs 156.20 on the BSE the day before.

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