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RBI gives nod to term extension of CSB Bank’s Interim MD & CEO Pralay Mondal; stock skids ~3%

His appointment shall be extended for a period of three months w.e.f. July 1, 2022.

June 30, 2022 11:14 IST | India Infoline News Service
CSB Bank Limited informed that the Reserve Bank of India (RBI) conveyed their approval for the extension of the term of appointment of Pralay Mondal, Deputy Managing Director as interim Managing Director & CEO of the Bank, for a further period of three months with effect from July 1, 2022, or till the appointment of a regular Managing Director & CEO in the Bank, whichever is earlier.

As per the approval of the RBI via letter dated March 23, 2022, and communicated via the above-mentioned letter dated March 23, 2022, the current term of appointment of Pralay Mondal Deputy Managing Director as interim Managing Director & CEO of the Bank is up to June 30, 2022, thus the extension was sought for continued interim arrangement and received.

CSB Bank’s counter slipped 2.66% so far in today’s trade at Rs194.25 against its previous close of Rs199.55 on NSE. It touched intraday high and low of Rs200 and Rs193.35 respectively.

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