MUMBAI: RBI has appointed its retired chief general manager Arun Kumar Singh as additional director on the board of Bandhan bank for a year from June 24. The appointment comes just over a fortnight before the term of Chandrashekhar Ghosh, founder & CEO of Bandhan Bank, ends. The bank is still in the process of finalising a successor for Ghosh. Singh, aged 60 years, has experience of almost 36 years in RBI.
The RBI said that it has invoked its powers under Section 36AB of the Banking Regulation Act. In the past, RBI had earlier appointed chief general manager Yogesh Dayal as an additional director on the board of RBL Bank invoking its powers under Section 36AB. The appointment in RBL Bank was also made at a time when the bank had not identified a successor for Vishwavir Ahuja the outgoing CEO of the bank.

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