Money & Banking

DCB Bank’s board approves appointment of Rupa Devi Singh as Non-exec Chairman

BL Mumbai Bureau | Updated on: Jan 17, 2022

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Appointment of Singh will be effective from the date of receipt of RBI approval

January 17

The Board of Directors of DCB Bank has approved the appointment of Rupa Devi Singh, Independent Director, as Non-Executive Chairman of the Bank. This appointment, which was approved at the Board of Director meeting on January 14, 2022, is in view of the vacancy caused by retirement of Nasser Munjee from that position.

DCB, in a regulatory filing, said this appointment is subject to approval from regulatory authorities and the shareholders of the Bank. “In terms of Section 10B(1A)(i) of the Banking Regulation Act, 1949, the appointment of part-time chairman requires prior approval of the Reserve Bank of India (RBI) for which an application is being made,” as per the filing.

Appointment of Singh as Non-Executive Chairman will be effective from the date of receipt of such RBI approval. According to DCB’s website, Singh has been a non-executive independent director of the Bank from January 22, 2015. She has over 35 years of experience in various sectors – commercial banking, project structuring, infrastructure, etc.

Published on January 17, 2022
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