He had availed loan to exercise warrants and enable maintaining the total promoter’s stake at a minimum of 26 per cent during the first 5 years of operations that ended in January 2022 as per the RBI regulations, it said.
The bank is on a good path, and he looks forward to taking the bank to greater heights with a continued focus on financial inclusion and build a highly respectable financial services institution that is known for customer service, transparency and governance, it said quoted letter by Ramachandran.