MUMBAI (Reuters) – India’s RBL Bank said on Sunday the private bank’s business fundamentals were intact with scope for tremendous improvement, a day after its top executive stepped down and the central bank appointed an executive to its board.
Rajeev Ahuja, the bank’s newly-appointed MD and CEO, told reporters the bank does not anticipate major capital needs in the short term, countering fears of problems in management.
In recent months, Indian media reported that some employees of the bank sought the finance ministry’s support to oversee operations as they believed regulatory frameworks were being ignored by the bank’s top management.
(Reporting by Nupur Anand, Chandini Monnappa; Editing by Andrew Cawthorne)
