Reserve Bank of India (RBI) approved the appointment of Sunil Gurbaxani as Managing Director and CEO of Dhanlaxmi Bank. Prior to this appointment, he was working with Axis Bank. He will serve for a period of three years from the date of taking charge. Dhanlaxmi Bank was removed from the RBI PCA framework as it was subject to certain conditions and continuous monitoring. The bank reported a 26% rise in net profit to Rs.21.28 crore for the third quarter ended December 2019. The bank had registered a net profit of Rs.16.90 crore during the corresponding period in previous fiscal. Also, the total income of the bank rose to Rs.285.85 crore from Rs.272.16 crore in October-December 2018-19. Dhanlaxmi Bank: Founded: 1927 Headquarters: Thrissur, Kerala, India Chairman: Mr. Sajeev Krishnan The bank currently has 280 branches and 398 ATMs spread over the states of Andhra Pradesh, Chandigarh, Delhi, Gujarat, Goa, Haryana, Kerala, Karnataka, Telangana, Maharashtra, Madhya Pradesh, Punjab, Rajasthan, Uttar Pradesh, West Bengal, and Tamil Nadu.