Tag: additional director

RBI appoints additional director on board of Ujjivan SFB

Banking & Finance

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The Reserve Bank of India has appointed P.N. Raghunath, General Manager, Reserve Bank of India, as an Additional Director on the board of Ujjivan Small Finance Bank for a period of two years.

“…we hereby inform you that the Reserve Bank of India vide its letter dated November 29, 2021, has appointed PN Raghunath, General Manager, Reserve Bank of India, Bengaluru, Regional Office, as an Additional Director on the board of the bank for a period of two years with effect from November 29, 2021 to November 28, 2023 or till further orders, whichever is earlier,” Ujjivan SFB said in a stock exchange filing on Monday.

Previously, the RBI had on September 16 appointed a special committee of directors, with three independent directors as members, to oversee the day-to-day operations.

The bank has been facing some amount of turmoil in recent months. Its Managing Director and CEO, Nitin Chugh, resigned earlier this year.

The lender has also had problems with asset quality as gross non-performing assets surged to Rs 1,712.65 crore or 11.8 per cent of gross advances as on September 30, 2021.

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Karnataka Bank appoints DS Ravindran as additional director

Banking & Finance

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Karnataka Bank Ltd appointed DS Ravindran as Additional Director (non-executive, independent) at its board meeting held on March 24. His appointment will be effective from April 1.

Ravindran (61) is an IFS officer (Indian Forest Service 1986 Batch) and the former Principal Secretary to the Karnataka government with over 34 years of experience in the areas of administration, civil service, research, financial planning, information technology, public policy planning and implementation process, renewable energy, etc. A postgraduate in agriculture, he has pursued a programme in Public Policy and Management at IIM-B. He holds a PhD in Forest Economics from the University of Wales.

Quoting Mahabaleshwara MS, Managing Director and Chief Executive Officer of the bank, a press release said Ravindran brings rich experience in agriculture and rural economy, economics, finance, IT, business management, human resource management besides public policy, government financial systems, renewable energy, etc. The bank is optimistic that he will bring value addition with respect to the bank’s decisions by way of valuable inputs and guidance, Mahabaleshwara said.

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