RBI urges RBL Bank depositors not to worry, assures them of adequate liquidity available with bank
Reserve Bank of India (RBI) has issued statements assuring the depositors that they must not worry. It has said that the RBL Banks liquidity ratio as on 24 December was 153 per cent
Amid the ongoing issues in the RBL Bank, the top management has assured the depositors that the bank has adequate liquidity and they must not worry at all. The liquidity coverage ratio is around 153 per cent. The statements have come from the top management.
Even the Reserve Bank of India (RBI) has issued statements assuring the depositors that they must not worry. It has said that the RBL Bank’s liquidity ratio as on 24 December was 153 per cent. The banking regulator has said that the financial condition of the bank was sound.
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It has also said that it will appoint its nominee if any regulatory or supervisory need is there.
The capital adequacy ratio as on 30 September 2021 was 16.33 per cent.
The panic in the share price of RBL Bank was seen when the markets reopened today as share fell by as much as 25 per cent intraday. The stock prices have recovered, though are still down significantly from the Friday closing price.
At 1:30 pm, the shares were trading at Rs 150.20, down by over 13 per cent or Rs 22. The intraday low around this time was Rs 130.
RBL Bank's Vishawvir Ahuja has gone on a leave with immediate effect. He was the Managing Director & Chief Executive Officer (CEO) of the bank, and the bank has appointed Rajeev Ahuja as the interim MD and CEO of the bank with immediate effect.
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Meanwhile, RBI has also inducted its nominee on the board of the RBL Bank for 2 years. The RBI has appointed its Chief General Manager Yogesh K Dayal as an additional director on the board of RBL Bank according to a PTI report.
The board in a meeting held on Saturday appointed Rajeev Ahuja (currently the Executive Director) as interim Managing Director & Chief Executive Officer of the bank with immediate effect, subject to the regulatory and other approvals, the bank said.
However, in its explanation, the newly appointed interim MD & CEO Rajeev Ahuja has said that the current development has no connection with the current financial condition or asset quality of the bank and that the financial condition of RBL Bank is quite strong.
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