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HomeMoneyIs RBL Bank going to sink? After all, why RBI sent...

Is RBL Bank going to sink? After all, why RBI sent the MD and CEO of the bank on immediate leave

RBI has been cautious since the Yes Bank fraud last year. Taking precautionary measures. Now a private bank RBL Bank is in the news. On December 25, the RBI had sent Vishwabir Ahuja, the MD and CEO of this bank, on immediate leave and appointed RBI Chief General Manager Yogesh Dayal as an additional director on the board.

In fact, the RBI has doubts about the intention of RBL Bank, in such a situation, the RBI has included Yogesh Dayalpur to monitor the activities of the bank. The central bank has appointed Rajiv as interim manager director and CEO of the bank. RBL Bank said on Thursday that the RBI has appointed Rajiv Ahuja as the bank manager.

RBL informed that the appointment of Rajiv Ahuja is for the next three months from 25 December 2021. Until a regular MD and CEO is appointed by the bank. Due to this change in the bank, there was a huge fall in the shares of RBL Bank on December 25, the day the shares had fallen by more than 20%. But once again on Thursday, the shares of RBL Bank have registered a sharp decline. A major reason is being told behind this decline.

According to the report, the main reason for RBI’s sudden intervention in private lender RBL Bank was Rs 300 crore which was written off within just 7 months of approval. This was given in the form of a consortium of banks. Due to this news, the shares of RBL Bank fell 9.29% on Thursday to close at Rs 130.90. Not only this, the bank’s shares also reached a one-year low on Thursday.

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