RBI authorizes Praveen Achuthan Kutty's nomination as MD and CEO of DCB Bank

17 Jan 2024 , 10:12 AM

On January 16, Praveen Achuthan Kutty was appointed as the managing director and chief executive officer of DCB bank by the Reserve Bank of India (RBI).

The bank stated in a regulatory statement that the appointment is effective April 29, 2024, and is for a three-year term.

With more than 32 years of expertise, Praveen Achuthan Kutty is well-versed in all facets of retail and SME banking.

He has spent the last sixteen years as a member of the leadership team of DCB Bank. He currently oversees SME, Agri, and Retail Banking. He was employed at Citibank before coming to DCB Bank.

Kutty’s most recent position at Citibank was as the Head of Non-Resident Indian Business for the US and Canada, located in New York. Praveen is an MBA graduate and a B Com.

Murali Natrajan, the bank’s MD and CEO, will leave office on April 28, 2024.  ‘Accordingly, as per the extant norms, the bank will soon be submitting its application to the Reserve Bank of India in this regard,’ it stated.

The Reserve Bank of India (RBI) granted DCB Bank permission in April 2021 to reappoint Murali M. Natrajan as Managing Director and CEO, effective April 29, 2021, for an additional year.

The Bank stated at the time that the re-appointment as above is contingent to shareholder approval at the following Annual General Meeting of the Bank.

In May 2009, Natrajan was named MD and CEO of DCB Bank. Natrajan formerly worked for global banks Standard Chartered and Citibank before joining DCB.

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