Points to Remember:
- Lakshmi Vilas Bank’s chief executive Parthasarathi Mukherjee quit citing personal reasons, leaving a question mark on the execution of the private-sector lender’s proposed merger with Indiabulls Housing Finance.
- The lender’s board has accepted his resignation, the bank said in a customary filing with stock exchanges. Mukherjee
would leave the bank on August 31, “as per his request,” the lender said in the statement.
- Mukherjee joined the bank on January 25, 2016, and was reappointed in January this year for a period of two years. He had
to deal with spiralling bad loans and mounting losses over the past few quarters.
About Lakshmi Vilas:
Headquarters: Chennai, Tamil Nadu
Important Possible questions based on above News:
- Who has stepped down from the role of CEO of Lakshmi Vilas Bank citing personal reasons? Parthasarathi Mukherjee
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