The South Indian Bank Limited has informed the Exchange regarding Notice of Postal Ballot
SOUTHBANK · price
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The South Indian Bank is seeking shareholder approval via postal ballot for two key items. First, the appointment of Sri. Jose Joseph Kattoor as Non-Executive Part-time Chairman with an annual honorarium of Rs. 25 lakhs for a 3-year term from March 23, 2026 to March 22, 2029. He was previously an Independent Director and this appointment has received RBI approval. Second, the regularization of Sri. Thomson Thomas as Independent Director for 3 years from March 23, 2026, who was appointed as Additional Independent Director from the same date. E-voting commenced on May 16, 2026 and concludes on June 14, 2026, with results to be declared by June 16, 2026.
Shareholders should note that Item 1 requires ordinary resolution approval while Item 2 requires special resolution approval. The RBI-approved appointment of the new Chairman and addition of an Independent Director represents normal board succession planning with regulatory compliance. No immediate material impact expected on stock price as these are routine governance matters.