The South Indian Bank Limited announced that Mr. Murali Ramakrishnan demitted the office of the Managing Director & CEO of the Bank, effective September 30, 2023 (after closure of business hours) on expiry of his tenure approved by the Reserve Bank of India. Further, Mr. P R Seshadri, who has been appointed as Managing Director & CEO of the Bank for a period of 3 years, effective October 1,2023 will take charge as Managing Director & CEO of the Bank on October 1, 2023. He shall also be a Whole-time Key Managerial Personnel (KMP) of the Bank pursuant to section 2(51) and other applicable provisions of Companies Act, 2013, Material Risk Taker (MRT) of the Bank and Principal officer of the Bank.

Seshadri has more than 25 years of banking experience spanning domestic and international markets. He takes over from Murali Ramakrishnan.