Reserve Bank of India (RBI) has cleared the name of Shivan JK as the new managing director and CEO of Kerala-based private sector lender Dhanlaxmi Bank after the shareholders approved the appointment, voting through postal ballot early this week.
“It is hereby informed that the proposal for the appointment of Shri. Shivan J K as Managing Director & CEO of the Bank for a period of three years w.e.f the date of taking charge has been approved by Reserve Bank of India,” the bank said in an exchange communication.
This is probably the first instance where a private bank CEO appointment is cleared by the RBI after the shareholders approve the proposal. In normal cases, the RBI first clears the name and later the shareholders approve the appointment.
“Further, the Board of Directors of the Bank, at its meeting held on January 28, 2021, pursuant to the aforementioned RBI approval, has appointed Shri. Shivan J K as Managing Director & CEO of the Bank for a period of three years from the date of taking charge,” the bank said.