The Reserve Bank of India (RBI) has authorised Meena Hemchandra‘s appointment as the Karur Vysya bank‘s temporary chairperson for three years, according to private sector lender Karur Vysya Bank. Hemchandra’s application for the position of non-executive independent (part-time) chairperson of the bank had been recommended by the bank to the RBI in May.
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KEY POINTS:
- Hemchandra‘s (64) term is approved for 3 years beginning on the day he assumes office.
- She has over 35 years of banking expertise in a variety of RBI areas as a career banker.
- From June 2015 to November 2017, Hemchandra served as the RBI’s Executive Director.
- Karur Vysya Bank shares were down 0.63 percent from the previous close, trading at Rs. 47.40 per share on the BSE.
About Karur Vysya Bank:
An Indian Scheduled Commercial Bank is Karur Vysya Bank. With its headquarters in Karur, Tamil Nadu, it has operated for 100 years and is one of the top banks in India. M. A. Venkatarama Chettiar and Athi Krishna Chettiar founded it in 1916. The bank’s main business segments are retail banking, corporate/wholesale banking, and treasury. Karur Vysya Bank offers services such corporate, personal, agricultural banking, as well as support for NRIs and MSME.
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