RBI appointed KN Madhusudanan as part-time chairman of Dhanalakshmi Bank

KN Madhusudanan has been appointed part-time chairman of Dhanalakshmi Bank by the Reserve Bank of India (RBI) after a vacancy of 21 months.

An Overview of the News

Madhusudanan's appointment is effective from September 26, 2023 and is for a tenure of 3 years.
Prior to this role, KN Madhusudanan served as an independent director on the board of the bank with effect from November 9, 2022.
KN Madhusudanan took over as part-time Chairman from G Subramaniam Iyer.
G Subramonia Iyer, who also served as an independent director, resigned from his post in December 2021.
After Iyer's resignation, the bank remained without a chairman for 21 months.

Background of KN Madhusudanan:

KN Madhusudanan is currently the Managing Director of various private limited companies, including companies focused on Micro, Small and Medium Enterprises (MSMEs).
His career started in civil construction in 1983.
He founded the Maavanal Group of companies and established two crushing units, Maavanal Granites Private Limited and Vajra Rock Mining Industries in Pathanamthitta, Kerala.
He is also the Promoter and Managing Director of M/s Mawanal Granites Pvt. Ltd.

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