Karur Vysya Bank Limited has informed the Exchange regarding Notice of Postal Ballot
KARURVYSYA · price
▲ positive · ▼ negative · ● neutral filings · teal = economic event · numbered = multiple that day (click to pick). Times IST.
Karur Vysya Bank has issued a Postal Ballot Notice seeking shareholder approval for two resolutions. The first seeks approval to re-appoint Shri B Ramesh Babu as Managing Director & CEO for a third term of two years (July 29, 2026 to July 28, 2028), with a proposed fixed pay of about ₹3.53 crore per annum and variable pay at 175% of fixed pay, subject to RBI approval. The second seeks approval to re-appoint CA Dr Chinnasamy Ganesan as Non-Executive Independent Director for a second term of five years (April 25, 2026 to April 24, 2031). E-voting will run from March 19, 2026 to April 17, 2026 via NSDL. The Bank highlighted that under Ramesh Babu's leadership, total business grew from ₹1,07,591 crore to ₹2,11,647 crore, net profit rose from ₹235 crore to ₹1,785 crore, and net NPA dropped from 3.92% to 0.19%.
Leadership continuity with a proven MD & CEO is broadly positive for shareholders, given the strong improvement in growth, profitability, and asset quality. The proposed hike in fixed pay may lift operating expenses marginally, but it is aligned with peer bank benchmarks and RBI guidelines.