Pralay Mondal named deputy MD of CSB Bank after RBI nod

CSB Bank on Friday said the Reserve Bank of India (RBI) has approved the appointment of Pralay Mondal as the bank’s deputy managing director for three years.

In January, MD & CEO C VR Rajendran decided to take an early retirement from the post to take care of his health, following the advice of his physicians. Rajendran will continue to lead the bank till March 31, 2022.

Accordingly, CSB board has decided to constitute a search committee to identify and evaluate internal and external candidates for the position of MD & CEO. It has also been decided to engage an independent search firm for the purpose.

CSB had announced Mondal’s name as deputy managing director subject to RBI’s approval in June last year.

Prior to this, Mondal has been with CSB as the president (retail, SME, operations and IT) since September 23, 2020.

The Kerala-based lender reported a 180 % year-on-year (y-o-y) increase in third quarter net profit to `148.25 crore largely due to an improvement in asset quality.

from Banking & Finance – The Financial Express https://ift.tt/v5wCSNo