Private sector lender RBL Bank Ltd on Wednesday (January 15) announced the appointment of Soma Sankara Prasad as an additional non-executive independent director for a term of four years, effective today, January 15, 2025.
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The decision was approved at the meeting of the board of directors held today, following recommendations from the Nomination and Remuneration Committee. The appointment is subject to shareholder approval.
With a distinguished career spanning 38 years in the banking sector, Prasad brings extensive expertise and strategic insight to the board. Prasad will not be subject to retirement by rotation during his tenure. The bank also confirmed that Prasad is not debarred from holding the position of director by any SEBI order or any other regulatory authority.
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Prasad has led UCO Bank as MD and CEO, successfully transforming the bank’s fortunes during his tenure. With 38 years of experience in the banking sector, he has held key roles at the State Bank of India, including deputy managing director and group compliance officer.
His career spans diverse areas such as retail banking, treasury operations, corporate credit, international banking, and areas relating to IT and regulatory compliance within SBI, India’s largest bank. Additionally, he has served as MD and CEO of SBI Pension Funds Pvt Ltd and as CFO of SBI General Insurance Company Ltd.
Prasad holds a master’s degree in commerce from Osmania University (gold medallist) and CAIIB. Shares of RBL Bank Ltd ended at ₹157.15, up by ₹2.80, or 1.81%, on the BSE.
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(Edited by : Shoma Bhattacharjee)
