Chennai: Ten days after S Krishnan resigned as the MD and CEO of the Tamilnad Mercantile Bank (TMB), the private sector bank has called for applications to appoint his successor. In an advertisement issued on Sunday, the bank said, the post is for a period of three years on contract basis. The candidate should be serving or retired in a capacity of chief general manager/general manager or above in any of the commercial banks or MD&CEO of any NBFC with at least two years exposure at the level and one year exposure at board level. The closing date for registering the online e-application is 22.10.2023.
The RBI through a letter on Thursday informed the bank to initiate the process of identifying a regular MD&CEO immediately . Krishnan shall continue as the MD&CEO till his successor assumes office.
Krishnan tendered his resignation on September 28, despite having two year term in office with the bank. His resignation came in the wake of an account holder of the TMB in Chennai being wrongly credited Rs 9,000 crore. However, Krishnan had said that his resignation was not connected with the issue of Rs 9,000 crore fiasco.
We also published the following articles recently
Rs 753 crore transferred to Chennai pharmacy employee, bank freezes accountA medical shop employee in Chennai was shocked to see a balance of over 753 crore in his bank account after transferring 2,000 to a friend. However, his account was frozen a few hours later due to a technical glitch. This is the third incident of such errors in Tamil Nadu in the past month. The bank stated that the incorrect balance was reflected only in the message and not in the account, and they are working to rectify the error.
87% of Rs 2,000 notes came as bank deposits; Rs 12,000 crore of currency yet to return: RBI governorReserve Bank Governor Shaktikanta Das has announced that 87% of the Rs 2,000 denomination notes being withdrawn have returned as deposits into banks. The remaining notes have been exchanged across counters. As of May 19, 2023, Rs 12,000 crore worth of Rs 2,000 notes are yet to come back. The RBI aims to focus on the 4% headline inflation target and will maintain an actively disinflationary monetary policy until this is achieved. The governor also mentioned that the gross non-performing assets have improved in the June quarter.
Bank manager, 3 aides held for loan scamA bank manager and his two accomplices have been arrested in Uttar Pradesh for embezzling Rs 1.5 crore in Mudra loans. The accused would get loans approved in the names of innocent villagers and then withdraw the money. They duped around 50 people in Barabanki and potentially hundreds of people in other districts. The mastermind behind the scam was identified as Suresh Madhu Rawat, who had one of his accomplices transferred to the bank branch in Barauli Malik. The bank manager would then process the loans and transfer the money to Rawat and his associates.
Published On Oct 9, 2023 at 08:17 AM IST
Join the community of 2M+ industry professionals
Subscribe to our newsletter to get latest insights & analysis.
