CHENNAI: The Reserve Bank of India (RBI) has approved the appointment of S Ravindran as the part-time chairman of the Tamilnad Mercantile Bank (TMB).
The bank said in a regulatory filing on Friday that RBI approved his appointment with effect from February 29, 2024 till August 2, 2026.
The approval is subject to Ravindran stepping down from his directorships in Shriram Finance Limited and Bandhan AMC Limited, prior to assuming charge as the part-time chairman of the bank.
61-year-old Ravindran has an extensive work experience of 29 years at the Securities and Exchange Board of India (Sebi). He was its executive director between August 2011 and May 2022.
As an advisor to Central Bank of Bahrain, on deputation from Sebi from Jan 2005 to Jan 2010, he had drafted and implemented Bahrain’s Securities Market/Regulatory Framework. Presently, he is an independent director on the board of the National Stock Exchange of India Limited (NSE), LTIDPL Invit Services Limited, Shriram Finance and Bandhan AMC.
