Comments
The Reserve Bank of India (RBI) has approved the reappointment of Romesh Sobti as MD and CEO of IndusInd Bank Ltd for a period of one year from February 1, 2014 to January 31, 2015 as against IndusInd Bank board’s recommendation for a term of three years.
In its communication to the stock exchanges, the bank said that RBI had approved the reappointment of Romesh Sobti as MD and CEO for one-year period from February 1, 2014 till January 31, 2015.
The bank said its board of directors intends to represent to the apex bank to get approval for a three-year term i.e from February 1, 2014 till January 31, 2017 as approved earlier by its board.
The bank pointed out that it board had on April 18 last year approved the reappointment of Romesh Sobti as MD and CEO for a period of three years with effect from February 1, 2014, subject to the approval of the shareholders and RBI. Shareholders at the AGM held on June 28 had cleared the proposal subject to the approval of RBI.
Comments
COMMENT NOW
Comments
Comments have to be in English, and in full sentences. They cannot be abusive or personal. Please abide by our community guidelines for posting your comments.
We have migrated to a new commenting platform. If you are already a registered user of TheHindu Businessline and logged in, you may continue to engage with our articles. If you do not have an account please register and login to post comments. Users can access their older comments by logging into their accounts on Vuukle.