In a formal disclosure made on April 24, 2025, RBL Bank Limited announced significant updates to its senior management structure, following the conclusions of its Board of Directors meeting held earlier the same day. The update includes the reappointment of Mr. Deepak Kumar as the Chief Risk Officer (CRO) and the upcoming conclusion of the contractual tenure of Mr. Sunny Uberai, the Bank’s Chief of Staff.

The decision aligns with the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the Reserve Bank of India’s circular dated April 27, 2017. These changes were finalized during a meeting that started at 10:09 a.m. and concluded at 4:52 p.m. at the Bank’s headquarters located at One World Center, Tower 2B, Mumbai.

Reappointment of Mr. Deepak Kumar as CRO

The Bank’s Board has approved the reappointment of Mr. Deepak Kumar as Chief Risk Officer for another term of one year, effective May 1, 2025. Mr. Kumar is an integral member of RBL Bank’s Management Committee (MANCOM) and plays a vital role in managing the risk governance framework of the organization.

With over four decades of experience in the banking sector, Mr. Kumar’s career includes a long and distinguished tenure with State Bank of India (SBI), where he held multiple key positions across various verticals including Corporate & MSME Lending, Retail & Branch Banking, Risk Management, and Credit Policy. His expertise extends to sustainable and renewable energy financing, showcasing his versatility in managing complex and emerging financial domains.

Mr. Kumar is highly qualified academically as well. He holds a postgraduate degree in Mathematics, an MBA in Finance, and a law degree. Notably, he is a university gold medalist at both graduate and postgraduate levels, underlining his scholastic excellence.

Exit of Mr. Sunny Uberai, Chief of Staff

On the other hand, Mr. Sunny Uberai, who has been associated with RBL Bank post his retirement on a fixed-term contract, will conclude his engagement with the Bank on April 30, 2025. The decision was made by mutual agreement between Mr. Uberai and the Bank. As a result, he will cease to be part of the senior management from the stated date.

Mr. Uberai had been serving in a leadership capacity during a transitional phase, aiding in strategic initiatives and internal coordination. While the Bank has not provided further details about succession planning for his role, it has assured that the necessary disclosures are being made in compliance with regulatory norms.

Regulatory and Disclosure Framework

These leadership changes were disclosed in accordance with:

• Regulation 30 read with Schedule III, Part A, Para A (7) of the SEBI Listing Regulations, and

• The SEBI Circular No. SEBI/HO/CFD/PoD2/CIR/P/0155 dated November 11, 2024, ensuring full transparency regarding corporate governance.

Additionally, the reappointment of the CRO was reported in line with the Reserve Bank of India’s Circular Ref No. DBR.BP.BC.No.65/21.04.103/2016-17, which provides the compliance roadmap for private banks in India regarding senior risk management appointments.

Corporate Governance and Way Forward

This announcement underscores RBL Bank’s commitment to prudent risk management and transparent governance. By reappointing a seasoned risk professional like Mr. Kumar, the Bank is reinforcing its risk oversight functions in a dynamic and increasingly regulated banking landscape.

Meanwhile, the exit of Mr. Uberai marks the end of an era of leadership support that complemented the Bank’s strategic restructuring and post-retirement engagement policies. It also indicates a likely internal reshuffling or fresh appointments to strengthen operational synergy.

Conclusion

The senior management restructuring as reported by RBL Bank on April 24, 2025, reflects a well-considered move towards continuity and strategic alignment. With the reappointment of Mr. Deepak Kumar as Chief Risk Officer and the contractual conclusion of Mr. Sunny Uberai’s role, the Bank continues to navigate its leadership transitions transparently, in full compliance with the applicable SEBI and RBI regulations.

These changes are now published on the Bank’s official website (www.rblbank.com) and have been communicated to both BSE Limited and the National Stock Exchange of India, under the applicable listing obligations.

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