RBI approves Ajith Kumar K.K. as MD of Dhanlaxmi Bank

According to the Dhanlaxmi  Bank, the Reserve Bank of India (RBI) has approved the appointment of Ajith Kumar K.K. as the managing director (MD) and chief executive officer (CEO) of the bank for a period of three years. The name of Ajith Kumar K.K. was proposed by the Dhanlaxmi Bank to the RBI. The Department of Banking Operations and Development of RBI approved the name of Ajith Kumar K.K. as MD and CEO of the Dhanlaxmi  Bank. 

After the formal approval from the Banking Operations and Development of RBI, Ajith Kumar K..K. 's name needs to be approved by the Dhanlaxmi Bank’s board of directors and shareholders.

Ajith Kumar K.K will replace the current MD & CEO of the Dhanlaxmi bank, Shivan J.K. 

RBI’s Department of Banking Operations and Development 

The Banking Regulation Act of 1949 makes the RBI the regulator and supervisor of India's commercial banks and Local Area Banks Commercial banks include public sector banks owned by the government of India, Indian private sector banks and foreign banks. Regional Rural Banks, Payment Banks and Small Finance Banks are also included under the category of commercial banks.

The Department of Banking Operations and Development of RBI is entrusted with the responsibility of regulating commercial banks and Local Area Banks under the regulatory provisions contained in the Banking Regulation Act, 1949, the Reserve Bank of India Act, 1934, and other related Acts.

The Department of Banking Operations and Development of RBI, under sections 10B and 35 B of the Banking Regulation Act 1949, approves proposals from Indian private sector banks for the appointment of part-time Chairman/Managing Director/ whole-time Chairman and Chief Executive Officers and the terms and conditions governing their appointments. 

About Ajith Kumar K.K 

Ajith Kumar K.K. has more than 36 years of banking experience. He is presently the chief human resource officer in the private sector Federal bank. He has worked in various verticals of Federal banks, such as credit, human resources, business, branch banking, etc.

Dhanlaxmi Bank 

Dhanlaxmi was established as Dhanalakshmi Bank in 1927 in Thrissur, Kerala. In 2010, it changed its name to Dhanlaxmi Bank.

Dhanlaxmi Bank is an old private-sector bank. In India, private banks that were not nationalised by the government of India in 1969 and 1980 were known as old private-sector banks.

It became a scheduled commercial bank in 1977. Currently, the bank has 261 branches and 282 ATMs.

Headquarters of the Bank: Thrissur, Kerala 

MD & CEO: Shivan J.K 

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