CSB Bank's C. VR. Rajendran, MD -; CEO to take early retirement

30 Mar 2022 , 03:46 PM

CSB Bank said in the filing that Mr. C. VR. Rajendran, Managing Director & CEO to take early retirement from the position due to health reasons and further to continue in the office of the Managing Director & CEO till the close of office hours on March 31, 2022, as mutually agreed.

The stock ended at Rs220 up by Rs3.05 or 1.41% from its previous closing of Rs216.95 on the BSE. The scrip opened at Rs219.80 and has touched a high and low of Rs226.40 and Rs216.85 respectively.

In continuation of the above, we wish to inform you that the panel of names shortlisted by the ‘MD Search Committee’, from which, a panel of two names recommended by the Nomination and Remuneration Committee and approved by the Board of Directors of the Bank in their meeting held on March 28, 2022 and March 29, 2022, is to be submitted to Reserve Bank of India for appointing one among them as Managing Director & CEO of the Bank. Accordingly, the Bank has today, i.e., March 29, 2022, submitted the panel of names to Reserve Bank of India, for their approval in terms of Section 35 B of the Banking Regulation Act, 1949, the bank said.