What’s behind the CEO resignations in India’s private sector banks?
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Sumant Kathpalia joins an inglorious list of private sector bank CEOs who had to resign in controversial circumstances due to mismanagement, corporate governance issues and regulatory problems. In the past five years, the CEOs of Yes Bank—the fourth largest private sector bank back then—and RBL Bank exited. The first instance was in March 2020, while the next was in December 2021. More recently, Bandhan Bank and Tamilnad Mercantile Bank (TMB) have seen CEO exits. Following is the list of private sector bank CEOs who had to quit under a regulatory glare. Rana Kapoor Kapoor had to leave the bank he co-founded after the RBI declined Yes Bank’s request for an extension because the lender had underreported NPAs for two consecutive years and the regulator found serious lapses in governance, compliance and credit culture. Deutsche Bank’s then India CEO Ravneet Gill joined the bank promising a clean-up and capital raise which never saw the light ...