The bank board moved a resolution on December 26, as asked by the RBI, for shareholders’ approval via electronic voting for the appointment of Shivan as the MD and CEO. The resolution was passed with an overwhelming majority of 99.81% and consequently the RBI gave its approval on Thursday for the formal appointment.
Dhanlaxmi is currently managed by a committee of directors (COD) and the tenure of which expires on January 31,2021. Sivan is expected to take charge by February 1.
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