LIC, SBI and Orix may take cue from course of action for IL&FS funding.
Mor had been re-nominated by the central government as a director of the RBI central board of directors in August 2017 for a second term.
The resignation of independent directors post IL&FS crisis shows the fear that has gripped them
The shares were sold by Mags Finvest Pvt Ltd through which Madhu Kapur owns 1.70% of shares which in turn is a part of the overall 9.32% shares she controls.
Bankers said the move is a welcome one at a time when the debt markets are nervous.
Bankers said they would now have to find a new way to do a KYC for customers refusing to share Aadhaar details.
As executive director at HDFC Bank, Kaizad Bharucha is in charge of wholesale banking which includes loans to companies, agriculture and also to capital markets.
The board has also requested the RBI to grant an extension to Kapoor till April 2019
Although Rana has led the Mumbai based lender to rapid growth, RBI has pointed fingers at his leadership.
Madhu Kapur's letter urges the board not to even allow Rana Kapoor to attend today's momentous meeting.
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