RBL Bank Stock falls 20%; Interim CEO Rajeev Ahuja allays investor concerns

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SOURCEForbes India
Salil Panchal

 BY SALIL PANCHAL, Forbes India Staff 6 min read PUBLISHED: Dec 27, 2021 11:16:26 AM IST UPDATED: Dec 27, 2021 11:55:49 AM IST

With the sudden exit of its veteran chief executive and no clarity on RBI’s stern intervention, the bank’s new business strategy is unclear, say analysts

“RBL has been unable to provide clarity on why Vishwavir Ahuja went on leave just a day after the RBI announced the appointment of an additional director to the RBL’s board,” says independent banking expert Hemindra Hazari, who publishes his writings on Singapore-based research platform Smartkarma.

“That the RBI has forcibly appointed a serving RBI officer on the RBL Bank’s board is a cause of significant concern to depositors and shareholders in the light of events at IL&FS, Yes Bank, PMC Bank and the erstwhile Lakshmi Vilas Bank,” Hazari adds.

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