Ramesh Gelli
Encyclopedia
Ramesh Gelli is an India
n banking executive who served as the chairman and managing director (CMD) of Vysya Bank and was a promoter and CMD of the troubled Global Trust Bank, India.
Gelli is an engineering graduate from Osmania University
and holds a degree in management from the Asian Institute of Management where he graduated top of his class. He worked at the Andhra Pradesh State Road Transport Corporation
and Bharat Heavy Electricals Limited before being appointed general manager at Vysya Bank in 1980. Three years later, he was elevated to the position of CMD of Vysya Bank.
He was awarded the Padmashri by the Government of India in 1990, the first banking executive to have received the honour.
He was the chairman of the Board of Governors of Bharathidasan Institute of Management
in the late 1990s.
Gelli set up GTB in 1993 along with Jayant Madhab, a top official of the Asian Development Bank
. In 2001, Gelli was removed from his position of CMD of GTB and later from its board by India's banking regulator, the Reserve Bank of India
(RBI) following a failed merger attempt. In 2004, GTB operations were halted by the RBI as GTB had accumulated non-performing assets in excess of permissible levels and its net worth turned negative, amidst accusations of mismanagement and reckless lending practices. GTB was then merged with the Oriental Bank of Commerce
by the regulator.
India
India , officially the Republic of India , is a country in South Asia. It is the seventh-largest country by geographical area, the second-most populous country with over 1.2 billion people, and the most populous democracy in the world...
n banking executive who served as the chairman and managing director (CMD) of Vysya Bank and was a promoter and CMD of the troubled Global Trust Bank, India.
Gelli is an engineering graduate from Osmania University
Osmania University
Osmania University , , since 1918, is a public university located in Hyderabad, Andhra Pradesh, India. It was established and named after the last Nizam of Hyderabad, Mir Osman Ali Khan. It is one of the oldest modern universities in India. It is the first Indian University to have Urdu and...
and holds a degree in management from the Asian Institute of Management where he graduated top of his class. He worked at the Andhra Pradesh State Road Transport Corporation
Andhra Pradesh State Road Transport Corporation
Andhra Pradesh State Road Transport Corporation or APSRTC is the state owned road transport corporation in the southern Indian state of Andhra Pradesh. It is acknowledged as the single corporation having the largest fleet in the world...
and Bharat Heavy Electricals Limited before being appointed general manager at Vysya Bank in 1980. Three years later, he was elevated to the position of CMD of Vysya Bank.
He was awarded the Padmashri by the Government of India in 1990, the first banking executive to have received the honour.
He was the chairman of the Board of Governors of Bharathidasan Institute of Management
Bharathidasan Institute of Management
Bharathidasan Institute of Management, Tiruchirappalli or BIM-Trichy is a business school, established in 1984 in Trichy, Tamil Nadu, India...
in the late 1990s.
Gelli set up GTB in 1993 along with Jayant Madhab, a top official of the Asian Development Bank
Asian Development Bank
The Asian Development Bank is a regional development bank established on 22 August 1966 to facilitate economic development of countries in Asia...
. In 2001, Gelli was removed from his position of CMD of GTB and later from its board by India's banking regulator, the Reserve Bank of India
Reserve Bank of India
The Reserve Bank of India is the central banking institution of India and controls the monetary policy of the rupee as well as US$300.21 billion of currency reserves. The institution was established on 1 April 1935 during the British Raj in accordance with the provisions of the Reserve Bank of...
(RBI) following a failed merger attempt. In 2004, GTB operations were halted by the RBI as GTB had accumulated non-performing assets in excess of permissible levels and its net worth turned negative, amidst accusations of mismanagement and reckless lending practices. GTB was then merged with the Oriental Bank of Commerce
Oriental Bank of Commerce
Oriental Bank of Commerce is an India-based bank in Lahore , is one of the public sector banks in India...
by the regulator.
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