“We wish to inform that, Bank has received approval from the Reserve Bank of India vide their letter dated 27th November 2024 regarding the appointment of Mr. R Ramaseshan as Part Time Chairman (Independent Director) of the Bank effective from today i.e., 27th November 2024 up to 07th February 2026,” the bank said in an exchange filing.
The decision follows the conclusion of Subhash Khuntia’s term as Part-Time Chairman on October 24, 2024. Khuntia will continue to serve as an Independent Director on the bank’s Board. The Nomination and Remuneration Committee, along with the Board of Directors, recommended the appointment of R Ramaseshan.
Ramaseshan has been with the bank since February 8, 2018, as an Independent Director. He brings extensive experience from both the government sector, as an IAS officer, and the private sector, having served as the Managing Director & CEO of a commodity exchange. His expertise spans public finance, tax reforms, equity and commodity derivative markets, and agricultural markets.
He holds a Bachelor’s degree in Engineering, an MBA in Finance, and is a fellow member of the Institute of Cost and Management Accountants of India.
