Lawstreet Journal

RBI allows Reappointment of Shyam Srinivasan as MD, CEO of Federal Bank

Lawstreet Journal 22 Jul 2020 5:28pm

Image courtesy: Lawstreet Journal Executive RBI allows Reappointment of Shyam Srinivasan as MD, CEO of Federal Bank

On Friday, 17th July 2020, the Federal Bank stated that it has received the approval of Reserve Bank of India for the reappointment of Shyam Srinivasan as Managing Director and Chief Executive Officer till 22nd September 2021. Shyam Srinivasan was appointed as MD and CEO of the Bank on 23rd September 2021. In a regulatory filing, Federal Bank informed Stock Exchanges that it received “RBI's nod on July 16, 2020, for the reappointment of Shyam Srinivasan as the MD and CEO of the bank, with effect from September 23, 2020, (the completion of the present term of office) till September 22, 2021, along with remuneration as proposed by the bank”.

He joined the bank, equipped with over 20 years of experience with leading multinational banks in India, the Middle East, and Southeast Asia. This has significant experience in retail lending, asset management, and small and medium-sized enterprises (SMEs) financing. He is a graduate of the Indian Institute of Management, Kolkata, and the Regional Engineering College, Tiruchirapally. Federal Bank shares traded at Rs 51.75 apiece on BSE, down 0.58 percent from its previous close. 

 

Eighty-ninth Annual General Meeting of the shareholders of the Federal Bank was conducted via videoconferencing on 17th July 2020. The conference was led by the Chairperson of the Bank, Ms. Grace Koshie, and was accompanied by other directors and shareholders of the Bank. The approval of the shareholders was requested for the implementation of audited financial statements of FY 2019- 20 and other proposals such as raising funds to… Continue Reading...


Tagged: Reserve Bank of India   Federal Bank  
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