Tamilnad Mercantile Bank: RBI Extends Director Tenure, Appoints New Director
Tamilnad Mercantile Bank Limited has announced changes in its board of directors, as directed by the Reserve Bank of India (RBI). Thiru.C.S.Ram Kumar's tenure as Additional Director has been extended for two years, from October 4, 2026, to October 3, 2028. Concurrently, Thiru.R.Kannan has been appointed as a new Additional Director for the same two-year period, replacing Thiru.Visvanathan Srinivasan. Both new appointees are retired General Managers from the RBI and are not related to any existing directors or key managerial personnel. They have also confirmed they are not debarred from holding directorships. Both directors will serve on the Audit Committee, Special Committee for Monitoring Frauds, and Risk Management Committee.
Key Highlights
- RBI extends Thiru.C.S.Ram Kumar's tenure as Additional Director for two years.
- Thiru.R.Kannan appointed as new Additional Director for two years.
- Appointments are in line with RBI's powers under the Banking Regulation Act.
- New directors are not related to existing management or directors.
- Both directors to serve on key board committees.
Price Impact
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