The RBI, on December 25, appointed chief general manager Yogesh Dayal, currently in charge of communications at the central bank, as an additional director on RBL Bank’s board for two years or until further orders. I thought it was normal. Then came news that Vishwavir Ahuja had left on holiday. And suddenly, word came that Rakesh Jhunjhunwala and Radhakrishna Damani approached RBI for a 10% stake.

RBL Bank said in filing to BSE that the Reserve Bank of India (RBI) appointed Yogesh K Dayal, chief general manager at RBI, as an additional director on the board for two years till December 23, 2023. RBL’s board accepted a request from Vishwavir Ahuja, managing director, and chief executive officer, to proceed on medical leave with immediate effect, the company said on Saturday.

The bank named Rajeev Ahuja as interim MD and CEO and claimed that the bank and its management have the full support of the RBI.

Their share price is In freefall.

This all. Remember me, Yes, Bank.

This all. Remember me, Yes, Bank. What was happening here was nearly the same as Yes Bank.

If I am not wrong, Vishwavir Ahuja, Rana Kapoor, and Shikha Sharma all 3 of them asked for a 3-year extension, but RBI declined. Axis bank is sufficiently big, so there was no big issue. But, there were some issues with Yes bank about corporate governance and NPAs, So it needed to save. That’s how the Yes bank saga unfolds.

Today is Monday, not the day I am supposed to post but to write this as I believe this is something big is happening.

RBL bank is like an old private sector bank. Simply, It received a banking license before RBI started distributing new banking licenses in 1992. But the way management handled it is all up. It is a management-owned bank that changed and went to one of the fastest-growing private sector banks for some time.

While studying the bank, I found that the efficiency ratio was high, which was not so good. As I am not connected to a big firm, I wasn’t aware, but now as many things have come to light, I realize that unsecured business is one hurdle for them. Banks like SBI started giving credit card loans, but f banks like RBL started showing it, it would be a big issue.

In my blog post, RBL bank company analysis, I wrote about them. I was not very much interested in holding their share. Their IPO was big as any bank that went public after a long time.

The current status for me is waiting and watching.