RBI clears appointment of Sunil Gurbaxani as Dhanlaxmi Bank MD

Reserve Bank of India (RBI) on February 20 approved appointment of Sunil Gurbaxani as managing director and CEO of Dhanlaxmi Bank. Gurbaxani is working with Axis Bank at present.

"RBI has approved the appointment of Sunil Gurbaxani as Managing Director and CEO of the Bank for a period of three years from the date of taking charge," Dhanlaxmi Bank said in a regulatory filing.

Dhanlaxmi Bank was removed from the RBI PCA framework, subject to certain conditions and continuous monitoring, as the bank is found to be not breaching any of the risk thresholds of the framework.

During the third quarter ended December, the bank reported a 26 percent rise in net profit to Rs 21.28 crore for the third quarter ended December.

The private sector lender had registered a net profit of Rs 16.90 crore during the corresponding period in previous fiscal.

Total income rose to Rs 285.85 crore from Rs 272.16 crore in October-December 2018-19.