1 hr ago
Mahesh Muralidhar Pai to lead South Indian Bank from October
Mahesh Muralidhar Pai will become the new head of South Indian Bank.
He will start as managing director and chief executive officer on October 1.
His appointment will last for three years.
The Reserve Bank of India and the bank’s board have approved it.
The bank’s shareholders also agreed to the appointment.
Pai has worked in banking for nearly 30 years.
He previously held a senior role at Canara Bank.
He said he wants to grow the bank carefully and improve its services and technology.
Mahesh Muralidhar Pai will become South Indian Bank’s MD and CEO on October 1.
The Reserve Bank of India and the bank’s board approved his three-year appointment in July.
Shareholders approved Pai’s appointment at the lender’s annual general meeting last month.
Pai brings nearly three decades of experience in banking, including digital banking, treasury and credit.
South Indian Bank said Pai will focus on disciplined growth, customer relationships and digital transformation.
- Who
- Mahesh Muralidhar Pai, South Indian Bank and its shareholders.
- What
- Pai will take charge as South Indian Bank’s Managing Director and Chief Executive Officer for three years.
- Where
- South Indian Bank; Pai previously worked at Canara Bank and led initiatives including its Kerala-based gold loan vertical.
- When
- October 1; the appointment was approved in July and by shareholders at last month’s annual general meeting.
- Why
- The bank said his leadership will support execution, customer relationships, digital transformation and disciplined business growth.
Key facts
- New MD and CEO
- Mahesh Muralidhar Pai
- Start date
- October 1
- Appointment term
- Three years
- Regulatory approval
- Approved by the Reserve Bank of India in July
- Shareholder approval
- Approved at the annual general meeting last month
- Prior experience
- Nearly three decades across strategy, governance, digital banking, treasury, foreign exchange, retail banking, agriculture and MSME credit
- Share price
- South Indian Bank shares closed flat at ₹48.17 on the National Stock Exchange of India
Quotes
Mahesh Muralidhar Pai
Incoming Managing Director and CEO of South Indian Bank
“As South Indian Bank builds on the progress made in recent years, his leadership will be important in strengthening execution, deepening customer relationships and accelerating the Bank’s digital and business transformation”
financialexpress.com
“My focus will be on driving our businesses, pursuing growth opportunities with discipline and strengthening our capabilities for a rapidly evolving financial landscape”
financialexpress.com
Sources
Related news
HDFC Bank Sends Two CEO Candidates to RBI
HDFC Bank Weighs Bharucha, External Candidates for CEO
Private Banks Begin Leadership Searches Amid CEO Succession Shift
Ujjivan SFB CEO Sanjeev Nautiyal Retires Early on Health Grounds
Ujjivan Shares Fall as RBI Approves Interim CEO Furtado
HDFC Bank Shares Rise as RBI Reviews Potential CEO
Technology Gives Investors More Speed, Data, and Risk Tools
Sebi Fines Shares Bazaar Five Entities Over Assured Returns
Sensex, Nifty Fall for Third Day Amid Crude Concerns
SME IPO Stocks Surge 400% After Strong Post-Listing Gains
