City Union Bank has announced the approval from the Reserve Bank of India (RBI) for the appointment of Shri Sankaran G as its new Executive Director (Whole Time Director). This appointment is effective for a period of three years from the date he assumes charge. Shri Sankaran G currently holds the position of Executive President at the bank. The bank will initiate the induction process for his new role on the Board in due course.
Key Executive Appointment Approved
City Union Bank has received formal approval from the Reserve Bank of India (RBI) for a significant leadership change. The RBI has sanctioned the appointment of Shri Sankaran G as a Whole-Time Director, designated as Executive Director of the Bank. This approval marks a crucial step in the bank’s governance structure and strategic direction.
Details of the Appointment
The tenure for Shri Sankaran G’s appointment as Executive Director is set for a period of three years, commencing from the date he officially takes charge. Currently, Shri Sankaran G serves as the Executive President of City Union Bank, bringing a wealth of experience and deep understanding of the bank’s operations to his new role. The bank intends to proceed with the necessary steps for his formal induction onto the Board of Directors in the upcoming weeks.
Next Steps
Following the Board’s approval, City Union Bank will make further disclosures to the relevant exchanges as per SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. This includes providing details as mandated by SEBI master circulars regarding the appointment of whole-time directors.
Source: BSE
