Updated: December 27, 2021 11:54:03 am
RBL Bank share price: Shares of RBL Bank tumbled nearly 25 per cent and hit a 52-week low on Monday after the private sector lender said its long-term MD and CEO Vishwavir Ahuja will go on leave with immediate effect, adding that the board has appointed executive director Rajeev Ahuja as an interim replacement.
The RBL Bank stock crashed 24.70 per cent to a 52-week low of Rs 130.20 on the National Stock Exchange (NSE) during the morning deals while on the BSE, it declined 23.28 per cent to Rs 132.35 – its 52-week low on the bourse.
At 11:33 am, the stock was trading at Rs 140.80 apiece on the BSE, down Rs 31.70 (18.38 per cent) while on NSE, it was at Rs 140.50, down Rs 32.40 (18.74 per cent).
Over 7.63 crore shares of the private sector lender were traded so far on the NSE while around 42.70 lakh shares exchanged hands on the BSE.
RBL Bank said that the Reserve Bank of India (RBI) appointed Yogesh K Dayal, chief general manager at RBI, as an additional director on the board for a period of two years till December 23, 2023. RBL’s board accepted a request from Vishwavir Ahuja, managing director and chief executive officer, to proceed on medical leave with immediate effect, the company said on Saturday.
The bank named Rajeev Ahuja as interim MD and CEO, who claimed, that the bank and its management have the full support of the RBI.
“I can assure you the bank and its management have the full support of the RBI. I was the successor that the board chose yesterday, and the RBI nominee approved it,” Rajeev Ahuja said in a conference call on Sunday. “These developments are not on account of any concern on advances, asset quality and deposits level of the bank. We want to allay any concerns any of you may have in this regard. The bank has the full support of the RBI,” he said.
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