The board of directors of RBL Bank, in its meeting on Thursday, approved the appointment of R Subramaniakumar as Managing Director and CEO of the bank.

The appointment, which is subject to the approval of shareholders of the bank, is for a period of three years with effect from June 23, 2022.

The Reserve Bank of India had on June 10 approved the appointment of Subramaniakumar as MD and CEO of RBL Bank.

In a stock exchange filing, the bank said that consequent to the appointment of Subramaniakumar, Rajeev Ahuja would now perform his role as Executive Director in terms of approval granted by RBI on February 24, 2020.

Ahuja had been appointed as interim MD and CEO of the bank from December 25, 2021 till June 24, 2022 or till the appointment of a regular MD and CEO.

“We also wish to inform that consequent to the appointment of R Subramaniakumar as MD and CEO, Vishwavir Ahuja’s term as the MD and CEO ended on June 23, 2022,” RBL Bank said, adding that the board placed on record its deep appreciation for his stellar contribution to the manifold growth of the RBL Bank during his tenure.