The Hindu Business Line : South Indian Bank endorses ESOPs

The Board of Directors of South Indian Bank has endorsed the Employee Stock Option Scheme approved by the Compensation Committee of the Board. The scheme now awaits the approval of shareholders. The board plans to seek shareholders' support at the next Annual General Meeting slated in June/July 2008. The bank has informed the Exchange that the board had constituted a Compensation Committee in mid-March to consider the feasibility of implementing the ESOP scheme in the bank. Following the approval of the draft proposal by the committee, the board now plans to get the shareholders' nod. - Our Bureau

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