Economy

The RBI assures depositors and stakeholders that RBL’s financial position is satisfactory

The Reserve Bank of India said on Monday that RBL Bank is well capitalised and its financial position is “satisfactory,” despite speculation in some quarters about the private sector lender in the wake of recent events.

The Reserve Bank of India said on Monday that RBL Bank is well capitalised and its financial position is “satisfactory,” despite speculation in some quarters about the private sector lender in the wake of recent events.

The Reserve Bank of India (RBI) said in a statement that depositors and other stakeholders do not need to react to speculative reports.

It stated that the bank’s financial health is stable.

The RBI’s statement comes after RBL Bank’s Vishawvir Ahuja stepped down as MD and CEO, and the lender appointed Rajeev Ahuja as interim Managing Director and Chief Executive Officer with immediate effect.

Yogesh K Dayal, the Reserve Bank of India’s Chief General Manager, has been appointed as an additional director on the board of RBL Bank.

RBI Says, Assuring Depositors and Stakeholders
RBI Says, Assuring Depositors and Stakeholders

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“The Reserve Bank would like to emphasise that the bank is well capitalised and that its financial position is sound. As of September 30, 2021, the bank had a comfortable Capital Adequacy Ratio of 16.33 percent and a Provision Coverage Ratio of 76.6 percent, according to half-yearly audited results “According to the central bank.

The bank’s Liquidity Coverage Ratio (LCR) was 153 percent as of December 24, 2021, compared to the regulatory requirement of 100 percent.

“Further, it is clarified that the appointment of Additional Director/s in private banks is made under Section 36AB of the Banking Regulation Act, 1949 as and when it is felt that the board requires closer regulatory/supervisory support,” the RBI added.

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