Dhanlaxmi Bank Ltd is an Indian private sector bank headquartered in

Thrissur Thrissur (, ), Renaming of cities in India, formerly Trichur, also known by its historical name Thrissivaperur, is a city and the headquarters of the Thrissur district in Kerala, India. It is the List of most populous urban agglomerations in Ke ...

Kerala Kerala ( , ) is a States and union territories of India, state on the Malabar Coast of India. It was formed on 1 November 1956, following the passage of the States Reorganisation Act, by combining Malayalam-speaking regions of the erstwhile ...

History

Dhanlaxmi Bank Ltd was incorporated on 14 November 1927 as Dhanalakshmi Bank at

with a capital of and seven employees. It became a Scheduled Commercial Bank in the year 1977. The bank changed its name from Dhanalakshmi Bank to Dhanlaxmi Bank on 10 August 2010. In 2020, shareholders voted to remove CEO Sunil Gurbaxani at the bank's

annual general meeting An annual general meeting (AGM, also known as the annual meeting) is a meeting of the general membership of an organization. These organizations include membership associations and companies with shareholders. These meetings may be required ...

, owing to governance issues at the bank. In April 2024, the

Reserve Bank of India Reserve Bank of India, abbreviated as RBI, is the central bank of the Republic of India, and regulatory body responsible for regulation of the Indian banking system and Indian rupee, Indian currency. Owned by the Ministry of Finance (India), Min ...

approved the appointment of Ajith Kumar KK as the managing director and CEO of Dhanlaxmi Bank for three years. Kumar will succeed incumbent CEO & MD J.K. Shivan.

Operations

Dhanlaxmi Bank has deployed a Centralised Banking Solution (CBS) on the Flexcube platform at all its branches for extending anywhere/anytime/anyhow banking to its clientele through multiple delivery channels. The bank has set up a data centre in Bangalore, to keep the networked system operational round the clock. Reserve Bank of India empanelled the Bank as agency Bank for Government agency Business. Bank introduced Customs duty collection services through online mode and Goods and Services Tax(GST) collection through online and over the counter modes.

Partnerships

The bank is a depository participant of NSDL (National Security Depository Limited) offering Demat services through select branches. It has partnered with AGS Infotech for the installation of ATMs. It offers VISA & Rupay-branded debit cards and VISA-branched credit cards to customers. It is also offering insurance services through Bajaj Allianz Life Insurance and CANARA HSBC OBC LIFE company as their Bancassurance life insurance channel partner and Bajaj Allianz General Insurance as General Insurance Channel Partner.

Credit cards

In March 2010, the bank launched Dhanlaxmi Bank Platinum Credit cards.

References

External links