General Announcement::Updates

Issuer & Securities

Announcement Title: General Announcement
Date &Time of Broadcast: 09-Apr-2020 16:25:45
Status: New
Announcement Sub Title: Updates
Announcement Reference: SG200409OTHR5SWE
Submitted By (Co./ Ind. Name): Dhanjit Thaivalappil
Designation: Asst Vice President
Description (Please provide a detailed description of the event in the box below): We wish to inform as under:

We refer to our intimation dated November 28, 2019, wherein we had intimated the appointment of Mr. Sashidhar Jagdishan and Mr. Bhavesh Zaveri by the Board of Directors each as an Additional Director and Executive Director (Whole-Time Director) of the Bank, subject to the approval of Reserve Bank of India and the shareholders.

We are now in receipt of a communication dated April 7, 2020 from Reserve Bank of India stating that since these are important positions in the Bank, the Bank is advised to examine and submit the proposal after a new MD and CEO assumes charge later this year.

The Bank shall accordingly ensure compliance with Reserve Bank s instruction as above.

Mr. Sashidhar Jagdishan and Mr. Bhavesh Zaveri shall continue as Additional Directors on the Board of the Bank till the ensuing Annual General Meeting, in terms of the relevant provisions of Companies Act, 2013.

This is for your information and appropriate dissemination.

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