GTB board to meet on April 30

NEW DELHI, APRIL 21. The board of directors of the Global Trust Bank (GTB) will meet on April 30 to review all exposures to various segments and take suitable action besides disclosing the financial results for the fourth quarter of 2000-01.

The meeting would also focus on consolidating its operations and on growing retail assets as business strategic units, a GTB release said.

GTB had earlier appointed Mr. R.S. Hugar as chairman and managing director and announced that the bank would make a 'few course corrections' including reduction of its exposure to capital markets.

Seeking to put the controversy surrounding the bank's alleged role in price rigging firmly behind him, Mr. Hugar had said GTB would now review its exposure to capital markets and take steps to reduce it to a maximum of five per cent from the present 11 per cent.

Mr. Hugar had taken charge on April 12 on the exit of the founder CMD Mr. Ramesh Gelli following allegations of share price rigging and market manipulation.

- PTI

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