RBL Bank shares plummet; Here are the top five MFs that are likely to be impacted

RBL Bank stocks fell over 20 per cent today, hitting the lower circuit twice. Continue reading to learn about the top five funds that are likely to be impacted.

Following the Café Coffee Day (CCD) event in July 2019, RBL Bank's shares fell precipitously. This decline continued until April 2020, when it reached an all-time low of Rs 102. The drop of about 600 points from its all-time high of Rs 716 resulted in a negative 86 per cent absolute return.  

However, some optimism emerged after April 2020, when the stock began to reverse upwards. However, its journey was hampered at Rs 274 levels, after which it began to fall again.  

Today, the stock dropped about 25% from its prior lows, reaching the lower circuit twice. This was amid the appointment of Yogesh K Dayal as an additional director on the board of the bank. Dayal is the Reserve Bank of India's Chief General Manager.  

In a press release bank said, "The Reserve Bank of India appointed Mr Yogesh K Dayal, Chief General Manager, Reserve Bank of India as an additional director on the board of the RBL Bank for a period of two years w.e.f December 24, 2021, till December 23, 2023, or till further orders, whichever is earlier."  

On December 25, 2021, the company's board of directors approved Vishwavir Ahuja's request to go on leave with immediate effect. In addition, the board selected Rajeev Ahuja, the bank's current executive director, as interim managing director and chief executive officer with immediate effect, subject to clearances.  

Having said that, this is likely to have an impact on mutual funds that have exposure to RBL Bank. The top five funds with RBL Bank exposure are listed below.