Karur Vysya Bank: Approves Re-Appointment of MD & CEO and Non-Executive Independent Director via Postal Ballot
Karur Vysya Bank seeks shareholder approval via postal ballot for re-appointment of Shri B Ramesh Babu as MD & CEO for two years, effective July 29, 2026, with fixed pay of ₹3.52 crore per annum. Also, re-appointment of CA Dr Chinnasamy Ganesan as Non-Executive Independent Director for five years, effective April 25, 2026. E-voting begins March 19, 2026, and ends April 17, 2026; results to follow.
The re-appointment of key personnel can have a moderate impact on the company's operations and investor confidence.
The announcement is about seeking approval for re-appointments and does not contain overtly positive or negative information.
Karur Vysya Bank has announced that it is seeking shareholder approval via postal ballot for the following resolutions: the re-appointment of Shri B Ramesh Babu (DIN: 06900325) as Managing Director & Chief Executive Officer (CEO) of the Bank for a third term of two years, effective from 29 July 2026 to 28 July 2028. His fixed pay will be ₹3,52,59,000 per annum, with eligibility for a 10% annual increment. He is also eligible for variable pay as approved by the RBI, up to 175% of fixed pay. 50% of the cash component of the Variable Pay will be payable upfront and the balance in equal installments over 3 years. For the last year of service, the variable pay shall be paid in the form of cash component which shall be restricted to 150% of fixed pay as per regulator guidelines. This is subject to the approval of the Reserve Bank of India under Section 35B of the Banking Regulation Act, 1949.
The second resolution is to approve the re-appointment of CA Dr Chinnasamy Ganesan (DIN: 07615862) as Non-Executive Independent Director of the Bank for a second term of five years, effective from 25 April 2026 to 24 April 2031.
The postal ballot notice is being sent via email to members as of the cut-off date, 13 March 2026. Remote e-voting will commence on 19 March 2026 (10:00 A.M. IST) and conclude on 17 April 2026 (5:00 P.M. IST). The results will be announced within two working days from the conclusion of the e-voting period and will be available on the bank's website and the NSE website.
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Karur Vysya Bank Limited filed this with the NSE as a statutory disclosure, categorised under shareholder meetings. It is a primary document, not a recommendation, and the desk marks it medium impact: worth reading, rarely worth acting on by itself.
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See the model portfoliosA plain-language summary of a public exchange filing by Karur Vysya Bank Limited. Read the original for the full detail.