RBL Bank shares slip 20% to 52-week low of Rs 138 as MD & CEO Vishwavir Ahuja goes on leave

Shares of RBL Bank Limited on Monday slipped 20 per cent in Monday's intraday trade on the BSE after the management in an exchange filing said that the Bank's MD and CEO had gone on a leave and the Reserve Bank of India (RBI) had appointed Yogesh K Dayal as an additional director of the bank. Shares after touching lower circuit of Rs155.25 went on to hit new 52-week low value of Rs 138 per share, down Rs 34.50 apiece, on the BSE.  

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"The Reserve Bank of India has appointed Yogesh Dayal as an Additional Director on the Board of the Bank for a period of two years till December 23, 2023 or till further orders, whichever is earlier. The Board accepted the request of Vishwavir Ahuja to proceed on medical leave and appointed Rajeev Ahuja (existing Executive Director of the Bank) as the Interim Managing Director & CEO of the Bank subject to regulatory and other approvals," read a regulatory filing on the BSE.  

Allaying concerns of the investors and dispositors of the bank, RBL Bank said these developments are not on account of any concern on advances, asset quality and deposits level of the Bank. "The Bank has the full support of the RBI," it said.  

Shares of RBL Bank had touched 52-week high value of Rs 274 per share on the BSE on January 8, 2021.  

RBL Bank is one of India’s leading private sector banks with an expanding presence across the country. It claims to provide service to over 9.97 million customers through a network of 445 branches, 1,435 business correspondent branches (of which 271 banking outlets) and 386 ATMs spread across 28 Indian states and Union Territories.