On June 1, 2020, The Reserve Bank of India (RBI) approved the extension of tenure for Lakshmi Vilas Bank (LVB) Managing Director (MD) and Chief Executive Officer (CEO), Subramanian Sundar by 6 months from May 31, 2020 to November 30, 2020.
Key Points:
i.This was the second extension given to Mr. Sundar, earlier as the MD and CEO (interim) from January 1, 2020 to April 30, 2020, his tenure was again extended from May 31, 2020 to November 30, 2020 or till the appointment of new CEO.
About Subramanian Sundar:
i.Sundar holds a Bachelor’s Degree in Commerce & is a Chartered Accountant (CA). He started off as a CFO (Chief Financial Officer) of LVB from April 2018.
ii.He has a background of working with banks like Andhra Bank, City Union Bank, LVB and has more than 40 years of experience.
About Lakshmi Vilas Bank (LVB):
Lakshmi Vilas Bank was founded in 1926 by a group of seven progressive businessmen in Karur under the leadership of Shri V.S.N. Ramalinga Chettiar.
Headquarters– Chennai, Tamil Nadu.
Tagline– The changing face of prosperity.
