RBI approves appointment of Mr. P R Seshadri as MD and CEO of The South Indian Bank Ltd

RBI vide its letter no. DoR.GOV. No.2870/08.51.001/2023-24 dated August 17, 2023 has conveyed their approval for the appointment of Mr. P R Seshadri (DIN: 07820690) as Managing Director & CEO of The South Indian Bank Ltd for a period of three years with effect from October 1, 2023.

A meeting of the Board of Directors of the Bank will be convened in due course, to approve the appointment of Mr. P R Seshadri as the Managing Director & CEO of the Bank and the approval of the shareholders shall be obtained thereafter as per the applicable provisions of the Companies Act, 2013 and SEBI Listing Regulations.

Mr. P R Seshadri (DIN: 07820690) is an accomplished banker with experiences spanning multiple businesses, functional lines and geographies. He has significant experiences in enterprise level management and in the management of all key commercial banking business lines and he has substantial experience in successfully managing investors, boards and regulatory relationships in multiple geographies. Mr. P R Seshadri is a respected business leader with a proven track record of building and leading large teams to execute and deliver complex business objectives. He demonstrated his ability in creating new businesses as well as in problem solving. He is successful in scaling businesses - both existing and new - taking advantage of new technologies and new market opportunities.

He holds Bachelor's degree in Electrical Engineering from the Delhi College of Engineering and a Post Graduate Diploma in Management from Indian Institute of Management, Bangalore.

Mr. P R Seshadri has served as, amongst other positions as, Managing Director & CEO of The Karur Vysya Bank Limited (KVB), Managing Director & Regional Sales and Distribution Head, Citibank N.A., Asia Pacific, Singapore, Managing Director & Regional Head of Lending, Businesses, Citibank N.A., Asia Pacific, Singapore, Managing Director CitiFinancial Consumer Finance India Limited (CCFIL), India, Marketing Director, Citibank N.A, India Branches, Head of Structured Finance & Managing Director, CFRSIL & Integration Manager - Associates India Limited, Head of Banking Collections, Citibank N.A, India, Head of Automobile Finance - Northern India, Head of Community Banking, Northern India, and Mortgage Business, Head - Southern India, Citi India.

He is currently mentoring businesses both at an operating level as well as at the Board level at various companies.

Shares of The South Indian Bank Limited was last trading in BSE at Rs. 21.08 as compared to the previous close of Rs. 21.16. The total number of shares traded during the day was 7891111 in over 6412 trades.

The stock hit an intraday high of Rs. 21.65 and intraday low of 20.81. The net turnover during the day was Rs. 167825938.00.

Source : Equity Bulls

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TheSouthIndianBank INE683A01023 RBIApproval Appointment MD CEO