RBI gives 3-year extension to Federal Bank CEO

The Reserve Bank of India has approved the re-appointment of Shyam Srinivasan as the Managing Director and CEO of Federal Bank for a three-year period.

“We wish to inform you that the approval from Reserve Bank of India has been received on July 9 for the re-appointment of Shyam Srinivasan as the MD and CEO of the bank for a period of three years with effect from September 23, 2021, till September 22, 2024,” said Federal Bank in a stock exchange filing on Friday.

Holds AGM

Meanwhile, at the bank’s annual general meeting on Friday, Srinivasan assured shareholders of steady and consistent performance by the lender.