Tamilnad Mercantile Bank Limited has informed the Exchange about the receipt of approval from the Reserve Bank of India (RBI) for appointment of Shri.K.Ramachandran (DIN - 08589628) as Non-Executive (Part-Time) Chairman of the Bank
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Tamilnad Mercantile Bank has received approval from the Reserve Bank of India to appoint Shri. K. Ramachandran (DIN: 08589628) as Non-Executive (Part-Time) Chairman of the Bank. The appointment is effective from August 14, 2025 and runs until June 11, 2028, a roughly three-year term. Mr. Ramachandran will receive a fixed remuneration of Rs. 18 lakh per annum, plus sitting fees and reimbursement of incidental expenses for attending Board/Committee meetings. This follows the Bank's earlier intimation dated June 12, 2025, regarding the proposed appointment, and is made under Section 10B(1A)(i) of the Banking Regulation Act, 1949.
This formalises the Chairmanship at the Bank with regulatory clearance in place, providing stability in board leadership for nearly three years. For shareholders, this is a routine governance update with no material financial impact beyond the disclosed remuneration.