NEWS & ADVICE : EDUCATION LOANS
Bank of Rajasthan to run under leadership of G Padmanabhan
By Neelima Shankar
Mar 31, 2010
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The troubled Bank of Rajasthan sail its ship caught in the typhoon of woes and worries with G Padmanabhan as the captain of the ship. Padmanabhan took over the charges of cruising BoR when it is under a pile of havocs.

Padmanabhan, who was earlier serving State Bank of India as Chief General Manager knew what was in store for him as he was aware of the grave situation of BoR. It was probably the only private bank to have four nominee directors from the RBI on its board.

Once Padmanabhan took charge, the bank got fined with Rs. 25 lakhs from the RBI for rule violation. Further more, extensive audit session was scheduled for the bank under the directive of RBI.

Journey has never been a cakewalk for Padmanabhan. In the mid 90's he was posted in SBI Kolkata when the bank was shifting base of its treasury operations from Kolkata to Mumbai. The move was definitely met with severe resistance from top bureaucrats and the big shots of the industry. It was Padmanabhan who was assigned the duty of carting out this operation in the least chaotic manner and he brought home success.

He has thus constantly faced opposition. The BoR case also brought in opposition against him with the Tayals requesting RBI to replace him as they claimed that the bank went into losses after he took charge of the operations.

Padmanabhan's experience of having worked in the management audit division of SBI would help him in dealing with the existent workforce of BoR.

He has all ambitions needed to turn the bank into a spirited performer with strict adherence to corporate governance. This is something everybody wants from the bank including the regulators as well as retail shareholders.

 


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