South Indian Bank shares tumble 9% after four-day rise; RBI clears Mahesh Pai as MD & CEO

Shares of South Indian Bank fell 9 percent after a four-day rally, despite the Reserve Bank of India approving the appointment of Mahesh Muralidhar Pai as Managing Director and Chief Executive Officer for a three-year term effective October 1, 2026. The stock had gained around 30 percent over the prior three months on optimism around leadership clarity, with the appointment now formalised via an RBI letter dated July 7, 2026. The bank commands a market capitalisation of Rs 12,478 crore, while FIIs raised their stake to 24.21 percent in the March 2026 quarter from 20.94 percent previously.