Money & Banking

RBI extends Madhavan Menon's term as part-time Chairman of CSB Bank

Our Bureau Mumbai | Updated on April 25, 2020

CSB Bank on Saturday said the Reserve Bank of India has extended the term of appointment of Madhavan Menon as the part-time Chairman of the Bank till July 21, 2020.

The private sector bank, formerly known as The Catholic Syrian Bank, in a regulatory filing said, the extension is in terms of Section 10B (1A)(i) of the Banking Regulation Act, 1949.

Menon was appointed as part-time Chairman of CSB Bank for a period of one year with effect from April 22, 2019. He is Chairman and Managing Director of Thomas Cook (India) Ltd.

In a statement issued on April 9, 2019, the Thrissur (Kerala) headquartered Bank, said the RBI accorded its approval for the appointment of Menon as Part-Time Chairman of the Bank. He has been holding the position of Non-Executive Director of the Bank since September 3, 2018, the statement added.

Menon is a nominee director of FIH- Mauritius Investments Ltd., which held 49.73 per cent stake in the Bank as at March-end 2020.

Published on April 25, 2020

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