Dhanlaxmi Bank
Corporate brand
UnclaimedAn Indian private-sector bank founded in Thrissur in 1927, serving retail, agricultural, small-business and institutional banking customers.
Last updated October 17, 2026
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Overview
Dhanlaxmi Bank is an Indian private-sector banking institution headquartered in Thrissur, Kerala. It was incorporated in Thrissur on 14 November 1927 and developed from a regional banking operation into a scheduled commercial bank, a status it obtained in 1977. Its historical identity is closely associated with Kerala, although its branch, ATM and digital infrastructure support customers across India. The bank provides a broad set of banking services rather than operating as a narrowly focused specialist. Its activities include retail deposits, savings and current accounts, term deposits, lending, agricultural finance, small and medium-sized enterprise banking, payment services, cards, remittances and selected financial-distribution products. It also offers dematerialised securities accounts through its relationship with NSDL and distributes insurance products through bancassurance arrangements. The bank's customer-facing channels include branches, ATMs, internet and digital banking, debit cards and credit cards. Technology has been important to the bank's effort to operate beyond its original regional base. Dhanlaxmi Bank implemented a centralised banking solution based on the Flexcube platform across its branches, supporting centralised account access and banking through multiple delivery channels. It established a data centre in Bengaluru to support continuous operation of its networked systems. The Reserve Bank of India has also empanelled the bank for government-agency business, giving it a role in selected public-sector collection and payment activities. The institution has periodically expanded the services available through its banking infrastructure. It launched Dhanlaxmi Bank Platinum credit cards in March 2010. In 2022, it introduced customs-duty collection through digital services and GST collection through online and over-the-counter channels. Its payment and card portfolio includes Visa- and RuPay-branded debit cards and Visa-branded credit cards. ATM deployment has been supported through a partnership with AGS Infotech. The bank's corporate history has also included periods of governance and capital pressure. In 2010, its shares reached an historical high of almost ₹200 during a strong phase for banking stocks; this historical market price is not a current valuation. In 2020, shareholders voted at the annual general meeting to remove managing director and chief executive Sunil Gurbaxani, with governance issues cited in reporting about the decision. In April 2024, the Reserve Bank of India approved Ajith Kumar KK's appointment as managing director and chief executive for a three-year term, succeeding J. K. Shivan. In December 2024, the board approved a rights issue of up to ₹297.54 crore through the issue of 14.16 crore equity shares to eligible shareholders, with the stated purpose of strengthening the bank's capital adequacy. Dhanlaxmi Bank therefore combines the profile of a long-established Kerala-origin bank with the operating model of a modern Indian private-sector institution. Its present proposition is built around deposit taking, credit, payments, government-related collection services, digital access and selected third-party financial products. Available reference material does not establish a separate international operating network or a controlling parent company. Dhanlaxmi Bank therefore combines the profile of a long-established Kerala bank with the operating model of a modern Indian private institution. Its current positioning centres on deposit mobilisation, credit, payments, government-related collection services, digital access and selected third-party financial products. The available references do not identify a separate international operating network or a controlling parent company.
History
Dhanlaxmi Bank was incorporated on 14 November 1927 in Thrissur, Kerala. Its origins place it among the older banking institutions associated with the state, where it built a regional customer base before expanding its banking infrastructure across India. The bank became a Scheduled Commercial Bank in 1977, an important institutional transition that placed it within the formal category of Indian banks eligible to conduct a wider range of commercial banking activities under the applicable regulatory framework. Over time, Dhanlaxmi Bank broadened its service model beyond traditional branch banking. Its activities came to include retail deposits and lending, agricultural finance, small and medium-sized enterprise banking, cards, digital channels, securities-account services and insurance distribution. The bank also entered relationships supporting ATM deployment, card issuance and bancassurance. It became a depository participant of NSDL for demat services through selected branches and offered Visa and RuPay debit cards together with Visa credit cards. The bank modernised its operating infrastructure through a centralised banking solution deployed on the Flexcube platform. The system was implemented across its branches to support access to banking services through multiple delivery channels. A data centre in Bengaluru was established to keep the networked system operating continuously. This technology base supported the bank's effort to provide anywhere-and-anytime banking while retaining a branch-led presence. Dhanlaxmi Bank changed its name from Dhanalakshmi Bank to Dhanlaxmi Bank on 10 August 2010. The year also marked a period of strong momentum in Indian banking shares: the bank's stock reached a historical high of nearly ₹200. That figure is a historical market observation rather than a current share price or valuation. In March 2010, the bank launched its Platinum credit card, adding a higher-tier card product to its customer offering. The institution subsequently experienced a significant governance episode. At the 2020 annual general meeting, shareholders voted to remove chief executive Sunil Gurbaxani. Governance issues were reported as the reason for the action, making the event a notable leadership and corporate-governance turning point in the bank's modern history. Dhanlaxmi Bank continued to develop transaction and government-related services. The Reserve Bank of India empanelled it as an agency bank for government-agency business. In 2022, the bank introduced customs-duty collection through digital services and GST collection through online and over-the-counter methods. These services extended its role beyond deposits and lending into public-revenue collection and transaction banking. In April 2024, the Reserve Bank of India approved Ajith Kumar KK as managing director and chief executive for a three-year period. He succeeded J. K. Shivan. Later in December 2024, the board approved a rights issue of up to ₹297.54 crore involving 14.16 crore equity shares offered to eligible shareholders. The announced objective was to bolster the bank's capital adequacy ratio, highlighting the continuing importance of capital management to its strategy. The available reference material describes Dhanlaxmi Bank as an active Indian private-sector bank with 264 branches and 285 ATMs across India. It does not identify a parent company, controlling group or international operating network. Its historical development is consequently best understood as that of an independent, Kerala-origin commercial bank that has expanded its products, technology and geographic reach while managing periodic leadership and capital challenges.
- 2024
Ajith Kumar KK approved as MD and CEO
[1]The Reserve Bank of India approved Ajith Kumar KK for a three-year term as managing director and chief executive.
- 2024
Rights issue approved
[1]The board approved a rights issue of up to ₹297.54 crore through 14.16 crore equity shares to strengthen capital adequacy.
- 2022
Digital customs and GST collection services introduced
[1]The bank added customs-duty collection through digital services and GST collection through online and over-the-counter channels.
- 2020
Shareholders remove chief executive
[1]Shareholders voted to remove Sunil Gurbaxani as chief executive at the annual general meeting amid reported governance concerns.
- 2010
Name changed to Dhanlaxmi Bank
[1]The institution changed its name from Dhanalakshmi Bank to Dhanlaxmi Bank on 10 August 2010.
- 2010
Platinum credit card launched
[1]The bank introduced Dhanlaxmi Bank Platinum credit cards in March 2010.
- 1977
Becomes a Scheduled Commercial Bank
[1]The bank obtained Scheduled Commercial Bank status.
- 1927
Bank incorporated in Thrissur
[1]Dhanlaxmi Bank was incorporated on 14 November 1927 in Thrissur, Kerala.
Products and positioning
A long-established Indian private-sector bank with Kerala roots and a diversified retail, agricultural, SME and transaction-banking proposition.
Banking services
Retail banking
Dhanlaxmi Bank's retail banking offering includes savings and current accounts, term deposits, personal banking access through branches and digital channels, payment cards and retail lending. The offering is designed to serve individual customers through a combination of branch, ATM and electronic delivery channels.
Lending
Agricultural banking
Agricultural banking is one of the bank's stated business areas. It forms part of the lending and deposit relationship offered to customers connected with agriculture and the rural economy, although the available reference material does not specify individual agricultural loan products.
Business banking
SME banking
The bank serves small and medium-sized enterprises through business banking and credit services. The available material identifies SME banking as a core operating area but does not provide detailed names or terms for individual facilities.
Payment cards · 2010
Dhanlaxmi Bank Platinum Credit Card
Introduced in March 2010, the Platinum credit card expanded the bank's card portfolio with a higher-tier credit-card product. The reference material identifies the launch but does not provide the card's benefits, fees or eligibility conditions.
Digital banking
Digital banking and centralised banking solution
The bank operates a centralised banking solution built on the Flexcube platform across its branches. This infrastructure supports account and transaction access through multiple delivery channels and is backed by a data centre in Bengaluru.
Securities services
Demat services
As an NSDL depository participant, Dhanlaxmi Bank offers dematerialised securities-account services through selected branches. The service extends the bank's relationship with customers into securities holding and transaction support.
Bancassurance
Insurance distribution
The bank distributes life and general insurance products through bancassurance partnerships. The cited partners include Bajaj Allianz Life Insurance, Canara HSBC OBC Life and Bajaj Allianz General Insurance.
Transaction banking · 2022
Government and tax collection services
Dhanlaxmi Bank has been empanelled by the Reserve Bank of India for government-agency business. Its later service expansion included digital customs-duty collection and GST collection through online and over-the-counter channels.
Controversies
Brand decisions
2024
Appointment of Ajith Kumar KK as MD and CEOStrategyBackground
The bank required a new managing director and chief executive after J. K. Shivan's tenure.
Action taken
The Reserve Bank of India approved Ajith Kumar KK's appointment for a three-year term.
Aftermath
Ajith Kumar KK succeeded J. K. Shivan as managing director and chief executive.
2024
Approval of rights issueOtherBackground
The bank identified the need to reinforce its capital position.
Action taken
In December 2024, the board approved a rights issue of up to ₹297.54 crore through 14.16 crore equity shares offered to eligible shareholders.
Aftermath
The stated objective was to bolster the bank's capital adequacy ratio. The available reference does not establish the final amount raised or the issue's completion status.
Proposed rights issue size. Up to ₹297.54 crore (December 2024)
2022
Expansion into digital customs-duty and GST collectionProduct launchBackground
The bank had an established role in government-agency banking and transaction services.
Action taken
It introduced customs-duty collection through digital services and GST collection through online and over-the-counter methods.
Aftermath
The move broadened the bank's public-revenue collection and transaction-banking capabilities.
2010
Launch of Platinum credit cardsProduct launchBackground
The bank was expanding its retail payment and card services.
Action taken
Dhanlaxmi Bank launched Platinum credit cards in March 2010.
Aftermath
The launch added a higher-tier credit-card product to the bank's retail offering; further performance details are not specified in the reference material.
2010
Corporate name changeStrategyBackground
The bank operated under the name Dhanalakshmi Bank before the change.
Action taken
The institution changed its name to Dhanlaxmi Bank on 10 August 2010.
Aftermath
The bank continued operating under the Dhanlaxmi Bank name.
Recent events
Reported
Dhanlaxmi Bank CEO Sunil Gurbaxani resigns[3]
Sunil Gurbaxani, who had been voted out as Dhanlaxmi Bank's managing director and CEO by shareholders, tendered his resignation to the board on Thursday.
Weekdays and relative dates follow the original report; their exact calendar dates have not been verified.
Reported
RBI appoints additional director to Dhanlaxmi Bank board[4]
The Reserve Bank of India appointed DK Kashyap as an additional director on Dhanlaxmi Bank's board for two years, effective September 28, or until further orders, whichever is earlier.
Reported
RBI appoints D K Kashyap to Dhanlaxmi Bank board[5]
The Reserve Bank of India appointed its General Manager D K Kashyap as an additional director on Dhanlaxmi Bank's board for two years, effective September 28, 2020, or until further orders, whichever is earlier.
Reported
Dhanlaxmi Bank appoints two directors to its board[6]
Dhanlaxmi Bank appointed PK Vijayakumar and G Rajagopalan Nair to its board. The article also notes the bank appointed G Subramonia Iyer and Suseela Menon R as additional independent directors the previous month.
Reported
Dhanlaxmi Bank appoints V Viswanathan as additional director[7]
Dhanlaxmi Bank appointed V Viswanathan as an additional director on its board, effective December 9, 2019.
Sources10 sources
- 1Dhanlaxmi Banken.wikipedia.org
- 2Dhanlaxmi Bank official websitedhanbank.com
- 3Dhanlaxmi Bank首席执行官Sunil Gurbaxani辞职financialexpress.com
- 4印度储备银行任命Dhanlaxmi Bank新增董事indiatoday.in
- 5印度储备银行任命 D K Kashyap 加入 Dhanlaxmi Bank 董事会economictimes.indiatimes.com
- 6Dhanlaxmi Bank任命两名董事thehindubusinessline.com
- 7Dhanlaxmi Bank任命V Viswanathan为额外董事thehindubusinessline.com
- 8Dhanlaxmi Bank's board appoints 3 member committee after shareholders oust CEO - BusinessTodaybusinesstoday.in
- 9RBI appoints additional director on Dhanlaxmi Bank board- Moneycontrol.commoneycontrol.com
- 10RBI appoints its director D K Kashyap on board of Dhanlaxmi Bank for 2 yrsbusiness-standard.com
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