The Reserve Bank of India (RBI) has approved the appointment of Praveen Achuthan Kutty as the managing director and CEO of DCB Bank.

The appointment is for a period of three years, effective from 29 April 2024, the private sector lender said in a regulatory filing.

A meeting of the board of directors will be convened in due course to approve the appointment of Kutty as the MD and CEO, and subsequently, approval of the shareholders shall be obtained, it added.

Kutty has been part of the DCB Bank leadership team for the past 16 years. He, alongside the current MD and CEO and management team, played a key role to turnaround the bank.

At present, he manages retail, SME and agri banking, the filing said.