Shares of RBL Bank crashed 23 per cent to hit a 52-week low of Rs 132.35 on the Bombay Stock Exchange (BSE) after the sudden exit of long-standing MD and CEO Vishwavir Ahuja, and the induction of RBI-appointed Yogesh Dayal as an additional director on the bank's board.
In a slew of developments in the past few days, RBI had appointed an additional director to RBL Bank's board while the lender's MD & CEO Vishwavir Ahuja went on leave.
The Reserve Bank of India has issued a statement on RBL Bank after the private lender's shares tanked sharply in early trade on Monday. Here is all you need to know.
RBI said it had intervened under a rule that’s invoked ‘as and when it is felt that the board needs closer support in regulatory/supervisory matters.’ While this statement was welcome, bank customers and investors were still clueless about what the actual matter was