Ramesh Gelli Indian Finance Professional
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About
Ramesh Gelli is an Indian Finance Professional.
Details
| First Name |
Ramesh
|
| Last Name |
Gelli
|
| Nationality |
Indian
|
| Occupation |
Finance Professional
|
Ramesh Gelli is an Indian banking executive who served as the Chairman and Managing Director (CMD) of Vysya Bank and was a promoter and CMD of Global Trust Bank. 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.