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    HomeBusinessRBL Bank stock drops 20 per cent

    RBL Bank stock drops 20 per cent

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    Markets

    Records sharpest drop among 30 stocks comprising the S&P BSE Finance Index

    The RBL Bank stock has dropped the most (about 20 per cent) among the 30 stocks comprising the S&P BSE Finance Index, even as the BSE Sensex has tanked about 1,400 points.

    The private sector lenderinformed the exchanges on June 11 that the Reserve Bank of India had approved the appointment of R Subramaniakumar as Managing Director & CEO for three years.

    “…A meeting of the Board of Directors will be convened to approve the appointment of Mr. R Subramaniakumar as an Additional Director and as the Managing Director & CEO of the Bank and the approval of the shareholders shall be obtained thereafte,” the Bank said in its stock exchange filing on Saturday.

    The other prominent stocks in the S&P BSE Finance Index that have declined in Monday’s trading so far include Mahindra and Mahindra Financial Services (7.25 per cent), L&T Finance Holdings (6.10 per cent) and Bajaj Finserv (5.93 per cent).

    Published on June 13, 2022

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