The Hindu Business Line : Will politics lure Gelli?

THE stay of Mr Ramesh Gelli, the chief promoter of Global Trust Bank (GTB), on the bank's board could well be a short affair of little over a month, if one goes by what is being talked about in political circles of Andhra Pradesh.

Mr Gelli has evinced interest in joining politics before the elections and could either contest from one of the Parliamentary constituencies or get nominated to the Rajya Sabha. "Since he cannot continue to play both the roles - as board member and politician - he has to quit the board in favour of an attractive opening in politics," according to sources.

However, when contacted, Mr Ramesh Gelli told Business Line that, "As of now, nothing is on cards. There were some invites from the political circles but I have not yet decided on joining politics. The rumours that I may not continue on the GTB board for long are based on the assumptions that I can not ride on two horses at a time and that the elections are likely in April."

Reiterating his commitment to the bank, he said, "The GTB board wanted the promoters to come back on to the bank to boost the confidence of shareholders. We are of the view that the growth of the bank is now critical. We would like to play a key role in capital raising programme and work towards the growth of the bank. We are also of the view that the bank needs a clear leadership. That was the reason why the former Chairman of National Bank for Agriculture and Rural Development (Nabard), Dr Pamidi Kotaiah, was appointed the Non-Executive Chairman of the bank."