CURRENT AFFAIRS

Detailed explanation-1: -Dhanlaxmi Bank on Thursday said that the RBI has approved a three-member interim committee of directors, headed by G Subramonia Iyer, to run the private sector bank after the shareholders voted out its MD and CEO Sunil Gurbaxani.

Detailed explanation-2: -Shri. Shivan J.K. has 37 years of experience in State Bank of India (SBI) and has handled various areas of commercial banking. He has headed corporate banking, international & forex operations and was also involved in retail advances and agriculture credit.

Detailed explanation-3: -The union drew parallels between the state of affairs at Dhanalakshmi Bank and the erstwhile Nedungadi Bank, which was merged with Punjab National Bank in 2003. It said the merger over 10 years ago was driven because of mismanagement, wrong investment policies and derailment of industrial relations climate.

Detailed explanation-4: -Dhanlaxmi Bank Ltd. was incorporated in 1927 at Thrissur, Kerala by a group of ambitious and enterprising entrepreneurs. Over the 95 years that followed, Dhanlaxmi Bank with its rich heritage has earned the trust and goodwill of clients.