R Subramaniakumar is new MD & CEO of RBL Bank

New Delhi: Private lender RBL Bank on Saturday announced that it has appointed veteran banker R Subramaniakumar as the new managing director and chief executive officer for a period of three years. The announcement comes nearly 6 months after RBL Bank’s long-term MD & CEO Vishwahir Ahuja had stepped down.

"The board of directors have approved the appointment of Mr. R Subramaniakumar as Managing Director & CEO of the Bank for a period of three years with effect from date of his taking charge, under Section 35B of the Banking Regulation Act 1949," the lender said in a regulatory filing.

The newly-appointed CEO of RBL Bank is a former managing director and chief executive director of state-run Indian Overseas Bank. Subramaniakumar has previously served as administrator of Dewan Housing Financial Corporation Limited (DHFL).

A banker having experience of around four decades, Subramaniakumar began his career with Punjab National Bank, where he was responsible for heading business transformation at the bank for 3 years. His previous stints include serving as Executive Director at Indian Bank and Indian Overseas Bank, Managing Director & CEO of Indian Overseas Bank and an Independent Director of the UC Pension Fund Limited.

Earlier in March, RBL Bank had informed the Reserve Bank of India that it has given a 3 month extension to its interim MD and CEO Rajeev Ahuja.