Begin typing your search above and press return to search.
Who can save Congress from redundancy?
access_time 2021-05-10T13:19:13+05:30
Iran and the revival of JCPOA
access_time 2021-04-23T13:21:09+05:30
A model mosque in Gujarat
access_time 2021-04-12T17:13:34+05:30
Towards a digital emergency?
access_time 2021-02-27T14:50:41+05:30
The slaughter of democracy in Puducherry
access_time 2021-02-24T11:27:21+05:30
Populist Fascism
access_time 2021-01-31T17:19:29+05:30
Homechevron_rightBusinesschevron_rightDhanalaxmi bank awaits ...

Dhanalaxmi bank awaits RBI decision after shareholders voting out Managing Director

Dhanalaxmi bank awaits RBI decision after shareholders voting out Managing Director

Kochi: Thrissur based Dhanalaxmi Bank's shareholders are looking forward to the Reserve Bank of India for its decision on the future course of action at the bank after they voted out Managing Director (MD) and CEO Sunil Gurbaxani at the annual general meeting on Wednesday.

During the bank's 93rd annual general meeting, 90.49 per cent of the total valid votes were polled against Gurbaxani's appointment, which was approved by the RBI in February.

According to sources, shareholders cited 'cultural mismatch' due to the appointment that resulted in disappointment among customers, leading to the rejection of the CEO appointment resolution.

The rejection comes just a week after Lakshmi Vilas Bank shareholders rejected the appointment of seven director, including MD & CEO S. Sundar.

The Dhanalaxmi bank's shareholders want to see whether the central bank will direct to call another AGM as per the provisions of the Banking Regulations Act.

Show Full Article
TAGS:Dhanlaxmi bank RBI Shareholders Lakshmi Vilas Bank 
Next Story