The Reserve Bank of India has approved the re-appointment of Shyam Srinivasan as the Managing Director and CEO of Federal Bank for another year, giving him a full decade as the head of the private sector lender.
His re-appointment is with effect from September 23 this year until September 22, 2020, the bank said in a regulatory filing.
The board of the private sector lender had, however, proposed a three-year term for Srinivasan’s re-appointment. Srinivasan, 57, took charge as the Managing Director and CEO of Federal Bank on September 23, 2010
Previously, he was re-appointed as the MD and CEO of the bank for a three-year period from September 23, 2016, to September 22, 2019, on the completion of his second term.