CBoP to increase directors on board to 15
Private sector lender Centurion Bank of Punjab (CBoP) on Wednesday said that the bank has received the approval from the RBI to increase the maximum permissible number of directors to 15.
In a communique to the BSE, the bank said by amending Article 95 of the Articles of Association, the bank could raise the number of directors from 12 to 15.
Last month, the RBI cleared the scheme of amalgamation of Lord Krishna Bank with CBoP. The merger came into effect on August 29. Under the scheme of amalgamation, CBoP will issue up to 13.22 crore shares of Re 1 each to the shareholders of Lord Krishna Bank in the ratio of seven shares for every five held.