Ajith Kumar KK has got the Reserve Bank of India (RBI) approval to be the new managing director and chief executive officer of Dhanlaxmi Bank.

Kumar will be the boss of the private bank for a period of three years.

Dhanlaxmi Bank said Friday that a meeting of the board of directors will soon be convened to approve the appointment of Kumar as the MD & CEO of the bank. The shareholders’ permission will be sought thereafter, as per regulatory provisions.

Kumar, who will succeed JK Shivan, is a seasoned banker with over 36 years of experience with the Federal Bank in various facets of banking including credit, human resources, business operations and branch banking. He currently serves as the chief human resources officer at Federal Bank.