RBI approves Mahesh M Pai as new MD at South Indian Bank

The Reserve Bank of India approved Mahesh M Pai's appointment as the new Managing Director of South Indian Bank, effective October 1, for a three-year term. Pai, who currently heads digital banking and innovation at Canara Bank, will succeed incumbent PR Seshadri whose term ends September 30. The South Indian Bank board is set to ratify the appointment at its July 16 meeting.