Indian Bank announces the resignation of Shareholder Director, Pradeep Kumar Malhotra, effective November 28, 2025. Mr. Malhotra’s resignation follows communication from the Reserve Bank of India, disqualifying employees of Life Insurance Corporation of India with para banking activities from serving on PSB boards. The bank has formally acknowledged the resignation and has updated its Board composition accordingly.
Directorate Change Announcement
Indian Bank has formally announced that Pradeep Kumar Malhotra, Shareholder Director, has resigned from the Board, effective November 28, 2025. This decision was communicated to the bank and is now formally acknowledged.
Reason for Resignation
The resignation stems from a communication received from the Reserve Bank of India (RBI). This communication specified that serving employees of Life Insurance Corporation of India (LIC) involved in certain banking activities are disqualified from serving as Shareholder Directors on the Boards of Public Sector Banks (PSBs). Mr. Malhotra’s resignation is a direct consequence of this directive.
Letter of Resignation
In his resignation letter, Mr. Malhotra expressed that it had been a privilege to serve on the Board of Indian Bank and contribute to the bank’s strategic initiatives, especially in technology adoption, governance, and financial market development. He also wished the bank continued success.
Source: BSE
