City Union Bank Ltd announced that RBI has approved the appointment of M Narayanan (62), independent director, as the part-time Chairman of the Bank for two years with effect from May 4, 2022.
Narayanan was inducted into the Board on May 3, 2016, as an Independent Director representing majority sector agriculture, rural economy, accountancy, and information technology, according to a statement.
He is a qualified chartered accountant (CA), cost accountant, and system auditor. He has a professional experience of more than 2 decades in various corporates and is now practising as a CA.
R Mohan, part-time Chairman of the Bank has laid down the office of Chairman of Board after completing his three year term on May 3, 2022. However, he will continue to act as an Independent Director of the Board of the Bank till June 27, 2022.