Kamalpreet

Industry veteran started his career with Punjab National Bank and his new role is for three years.

R Subramaniakumar's nomination as MD and CEO of RBL Bank has been accepted by the Reserve Bank of India (RBI), according to the private lender.

Subramaniakumar was the former managing director and chief executive officer of the state-owned Indian Overseas Bank, which he left on June 30, 2019. After the mortgage financier's board was replaced, he was named administrator of Dewan Housing Finance Co Ltd.

Subramaniakumar has been appointed to RBL for a three-year term, beginning on his first day on the job. "A meeting of the Board of Directors of the Bank will be convened in due course upon completion of requisite formalities, inter alia to approve the appointment of Mr. R Subramaniakumar as an Additional Director and as the Managing Director and CEO of the Bank, and the shareholders' approval will be obtained thereafter as per the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations," RBL said.

Subramaniakumar began his banking career with Punjab National Bank and has 40 years of experience. For three years, he led business transformation at PNB, transforming a variety of companies including digital, human resources, and small and medium businesses, among

In December of last year, RBL's then-MD and CEO, Vishwavir Ahuja, took an indefinite leave of absence. Rajeev Ahuja, an executive director, has been named temporary Managing Director and Chief Executive Officer.

After RBI added one of RBL's main general managers, Yogesh Dayal, to the lender's board as an additional director, Ahuja took leave.