te RBI rejects Tamilnad Mercantile Bank's recommendation to appoint B Vijayadurai as non-executive chairman | Zee Business

RBI rejects Tamilnad Mercantile Bank's recommendation to appoint B Vijayadurai as non-executive chairman

"Reserve Bank of India vide their letter dated September 19, 2022, declined our request for appointment of B Vijayadurai as part time non executive Chairman of the Bank," the bank said in a regulatory filing on Tuesday.

RBI rejects Tamilnad Mercantile Bank's recommendation to appoint B Vijayadurai as non-executive chairman
The Tamilnad Mercantile Bank had on August 20 recommended to the RBI for appointment of B Vijayadurai as part time non-executive chairman. Pic: Reuters

The Reserve Bank has declined Tamilnad Mercantile Bank's recommendation to appoint B Vijayadurai as part time non-executive chairman of the lender, as per a regulatory filing.

The bank had on August 20 recommended to the RBI for appointment of B Vijayadurai as part time non-executive chairman.

 

TRENDING NOW

"Reserve Bank of India vide their letter dated September 19, 2022, declined our request for appointment of B Vijayadurai as part time non executive Chairman of the Bank," the bank said in a regulatory filing on Tuesday.

The reasons for RBI's denial could not be ascertained.

It said the regulator has advised it to submit a fresh proposal of another independent director for the post of part time non-executive chairman.

The bank made its debut on the stock exchanges on September 15, 2022. Stock of TMB closed 0.53 per cent lower at Rs 494.05 apiece on BSE on Tuesday.

Written By: PTI
Updated: Wed, Sep 21, 2022
10:39 am
PTI
RELATED NEWS
Nokia Q4 operating profit down 27%, beats forecast on margin boost Nokia Q4 operating profit down 27%, beats forecast on margin boost
Walt Disney and Mahindra officials join USISPF Board of Directors Walt Disney and Mahindra officials join USISPF Board of Directors
Go First's lenders seek investor bids by January 31 -sources Go First's lenders seek investor bids by January 31 -sources

By accepting cookies, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage, and assist in our marketing efforts.

x