RBI Says RBL Bank’s Financial Situation “Satisfactory”

0


Bombay: The Reserve Bank of India said Monday that RBL Bank is well capitalized and that its financial situation remains “satisfactory”, amid speculation about the private sector lender in some neighborhoods following recent events surrounding the bank.

In a statement, the Reserve Bank of India (RBI) also stated that there was no need for depositors and other stakeholders to react to speculative reports.

The bank’s financial health remains stable, he said.

The RBI statement comes as RBL Bank’s Vishawvir Ahuja resigns as the bank’s managing director and CEO and the lender appoints Rajeev Ahuja as the bank’s interim managing director and CEO with immediate effect .

The Reserve Bank of India has also appointed its Managing Director Yogesh K Dayal as an additional director on the board of directors of RBL Bank.

“The Reserve Bank would like to point out that the bank is well capitalized and that the bank’s financial situation remains satisfactory. According to the half-yearly audited results as of September 30, 2021, the bank has maintained a comfortable capital adequacy ratio of 16.33% and a provision coverage ratio of 76.6%, ”the central bank said.

He also indicated that the bank’s short-term liquidity ratio (LCR) was 153% as of December 24, 2021, against a regulatory requirement of 100%.

“In addition, it is clarified that the appointment of additional directors in private banks is undertaken under section 36AB of the Banking Regulation Act 1949 when it is deemed that the board of directors is in need of assistance. ‘closer regulatory / supervisory support,’ the RBI added. .

Singapore, India cement bilateral ties despite Covid challenges



Latest stories



Share.

Comments are closed.