RBL Bank does away with rule that 50% of directors attend a board meet
This story was originally published at 09:13 IST on 13 April 2026
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MUMBAI – RBL Bank Ltd. has done away with the requirement that board meetings must be attended by at least half of the directors on the board, the bank said in an exchange filing on Saturday. The bank has made changes to this effect in its articles of association on the advise of the Reserve Bank of India, which exempted Emirates NBD Bank from the rule. This follows the central bank's approval to Emirates NBD Bank to acquire 74% stake in the bank.
RBL Bank has also amended the agreement signed with Emirates NBD Bank and given the latter power to nominate all non-independent directors, including executive directors, if Emirates NBD Bank's stake remains above 50%. Earlier, the agreement allowed Emirates NBD Bank to nominate all non-independent directors constituting 50% of the board's composition if its stake remains above 50%.
RBL Bank has also made amendments to the articles of association allowing the board's chairman to have an additional vote in case there is an impasse. "In the case of an equality of votes, the chairman of the meeting shall be entitled to a second or casting vote, in addition to the vote or votes to which he may be entitled as a member," RBL Bank said.
RBL Bank will call an extraordinary general meeting on May 4 to seek approval for the changes made in the articles of the association. The bank will also seek approval for remuneration to be paid to non-executive part-time Chairman Chandan Sinha.
For the quarter ended December, the bank had reported a net profit of INR 2.14 billion and total income of INR 47.17 billion. Friday, shares of the bank closed at INR 322.15 on the National Stock Exchange, more than 1% higher. End
Reported by Anshul Choudhary
Edited by Ashish Shirke
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