INSUBCONTINENT EXCLUSIVE:
The stock has been under pressure in recent weeks amid uncertainty over its next CEO after RBI cut short Rana Kapoor's tenure to January
31, 2019.
In response to another query from NSE about alleged window dressing of corporate accounts to conceal actual non-performing assets
by way of ever-greening of loans, the lender clarified that it has not entered into any transactions with the intent to any window-dressing
As mandated and required under regulations, the bank has been making all disclosures to stakeholders on NPA divergence-related finding
to request RBI for at least a three-month extension for Rana Kapoor, Managing Director and Chief Executive Officer, beyond January 31, 2019
that the board had sought for Kapoor to January 31, 2019, and asked the bank to find a replacement
The banking regulator offered no reasons for the curtailment of the term.
Kapoor is the second chief executive at a private sector lender
conducted by RBI, both the banks had been found to have under-reported non-performing assets to the tune of over Rs 10,000 crore for two
