Yogesh Dayal's Term on RBL Bank's Board Ends

Yogesh Dayal's term as additional director on the board of RBL Bank ended on Dec. 23 after a tenure of two years, the bank told the exchanges in a notification.

Dayal had been appointed on the board of the bank by the Reserve Bank of India on Dec. 24, 2021 for a period of two years, or till further orders, whichever is earlier.

"The board has placed on record its deep appreciation for the invaluable contribution made by Mr. Yogesh Dayal during his tenure as an Additional Director," the bank said in a filing.

Dayal's appointment had come right before the sudden departure of Vishwavir Ahuja as MD & CEO of RBL Bank on Dec. 25, 2021. Rajeev Ahuja, the bank's executive director and second-in-command, had then taken over as interim MD & CEO.

Following a selection process which last many months, the bank's board appointed R Subramaniakumar as the full-time MD & CEO in June 2022.

Dayal's appointment on the RBL Bank board and the sudden change in CEO had led to a lot of speculation around the health of the private sector bank.

This speculation about RBL Bank had led the RBI to issue a rare clarification to the market about the health of a bank.

"...there is no need for depositors and other stakeholders to react to the speculative reports. The bank’s financial health remains stable," RBI had said in its statement on Dec. 27, 2021.