CSB Bank Limited has informed the Exchange regarding approval of Reserve Bank of India for appointment of Mr. Biswamohan Mahapatra (DIN: 06990345) as Non-executive Part-Time Chairman of the Bank
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The Reserve Bank of India has approved the appointment of Mr. Biswamohan Mahapatra as the Non-Executive Part-Time Chairman of CSB Bank for a period of three years, effective May 9, 2025. Mr. Mahapatra, who is already serving as an Independent Director on the bank's board since April 16, 2025, is a former RBI Executive Director with about 33 years of central banking experience. He was instrumental in implementing Basel III regulations and previously served on the bank's board from June 2023 to June 2024. The appointment was made under Section 10B (1A)(i) of the Banking Regulation Act, 1949, and he is not related to any other directors on the board.
This is a routine governance update with a former senior RBI official taking the chairmanship, which is generally viewed positively by investors as it brings deep regulatory expertise and credibility to the bank's leadership. No material change in business direction is expected.