Dhanlaxmi Bank was removed from the RBI PCA framework, subject to certain conditions and continuous monitoring.

Shares of Dhanlaxmi Bank rallied 19.4 percent intraday on February 24 after the Reserve Bank of India approved the appointment of Sunil Gurbaxani as CEO and Managing Director.





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"The RBI through its letter of February 20 has approved the appointment of Sunil Gurbaxani as

Managing Director & CEO of the bank for a period of three years from the date of taking charge," the

bank said in its BSE filing.





Currently, Gurbaxani is the Executive Vice President at Axis Bank.





Dhanlaxmi Bank was removed from the RBI PCA framework, subject to certain conditions and

continuous monitoring, as the bank is found to be not breaching any of the risk thresholds of the

framework.





During the third quarter ended December, the bank reported a 26 percent rise in net profit to Rs 21.28

crore for the third quarter ended December, against Rs 16.90 crore during the corresponding period in

previous fiscal.





At 13:14 hours, the stock was quoting at Rs 15.45, up to Rs 2.22, or 16.78 percent on the BSE.



