The Reserve Bank of India (RBI) appointed Yogesh K Dayal, its chief general manager, as an additional director on the board of private lender RBL Bank for a period of two years. The appointment came into effect on December 24, 2021.
RBL Bank, in a regulatory filing on December 25, said its board has welcomed the central bank's decision. "The bank shall benefit from this addition considering his rich experience with the highly respected regulator," it said.
His tenure would last "for a period of two years w.e.f December 24, 2021 till December 23, 2023 or till further orders, whichever is earlier", RBL Bank said. The appointment has been made by the RBI under Banking Regulation Act, 1949.
The lender noted that Dayal is not related to any of the directors or other key managerial personnel of the bank, and is also not debarred from holding the office of director by virtue of any SEBI order or any other regulatory or statutory authority.
Notably, Dayal is a career central banker who has worked with the RBI in various capacities for over 25 years. He has held positions in the central bank's monetary policy department, as well as the departments related to banking supervision, information technology, currency management and payment and settlement system besides financial inclusion and development.
Currently as chief general manager, Dayal is in charge of the RBI's department of communication.
Apart from confirming his appointment as an additional director on board, RBL Bank informed the stock exchanges that it is "well placed to execute its business plan and strategy" as communicated during its earnings call on October 28."The business and financial trajectory continues to be on improving trend, post absorbing the challenges due to COVID-19 pandemic. The financials of the bank remain robust with healthy capital adequacy of 16.3 percent, high levels of liquidity as reflected through liquidity coverage ratio of 155 percent, stable net NPA of 2.14 percent, credit deposit ratio of 74.1 percent and leverage ratio of 10.0%, for the quarter ended September 30, 2021," it said.