DCB Bank announced today, June 12, 2026, that the Reserve Bank of India (RBI) has approved the appointment of Mr. Pushan Mahapatra as the Non-Executive Part-Time Chairman. This appointment is effective from June 12, 2026, until March 09, 2029. Mr. Mahapatra brings over 40 years of extensive experience in the banking sector, including leadership roles with SBI group, and previously served as MD & CEO of SBI General Insurance Co. Ltd.
RBI Approval for Chairman Appointment
DCB Bank has received approval from the Reserve Bank of India (RBI) for the appointment of Mr. Pushan Mahapatra (DIN: 07307428) as the Non-Executive Part-Time Chairman of the Bank. The approval was communicated by the RBI via a letter dated June 12, 2026. This decision aligns with the applicable provisions of the Banking Regulation Act, 1949.
Tenure and Background of Appointee
Mr. Mahapatra’s tenure as Non-Executive Part-Time Chairman will be effective from June 12, 2026, and will continue until March 09, 2029. His extensive career spans over 40 years, with 35 years spent within the SBI group, where he held senior leadership positions across Retail & Corporate Banking, Technology, Compliance, and Audit. He also served as MD & CEO of SBI General Insurance Co. Ltd. for nearly 5 years.
Board Ratification
Following the RBI’s approval, the Board of Directors of DCB Bank, through a resolution passed on June 12, 2026, has officially approved the appointment of Mr. Mahapatra to the position of Non-Executive Part-Time Chairman. This announcement is made in compliance with applicable regulations.
Source: BSE
