Mumbai: The Reserve Bank of India has approved the appointment of P R Seshadri as the Managing Director (MD) of South Indian Bank with effect from October 1, 2023 for a period of three years. Following the RBI approval the board will meet to approve his appontment.
Murali Ramakrishnan MD at South Indian Bank. He had chosen not to be available for reappointment by the board after his tenure ends on September 30 on account of personal and family reasons.
Seshadri has held key roles including MD & CEO at The Karur Vysya Bank Limited (KVB), various positions at Citibank N.A. such as managing director & regional sales and distribution head, managing director & regional head of lending, businesses, and roles encompassing marketing, structured finance, collections, and automobile finance.
South Indian Bank is a private sector bank based in Kerala, India. It was founded in 1929 and is one of the earliest banks in South India. The bank has a strong presence in the region and has expanded its operations over the years. It offers a range of banking and financial services to its customers, including retail banking, corporate banking, and various financial products.
