KV Subramanian appointed as Federal Bank MD & CEO
Appointment
3 min read
The Kochi-based private sector bank Federal Bank has announced the appointment of Krishnan Venkat Subramanian as the new managing director (MD) and chief executive officer (CEO) of the bank. He will succeed Shyam Srinivasan, the longest-serving managing director and CEO of the bank.
KV Subramanian Appointed for a Three-Year Term
- According to the Federal Bank, KV Subramanian has been appointed for a three-year term. He will formally take charge as the MD & CEO of the Federal Bank on 23 September 2024.
- According to the Federal Bank, the Reserve Bank of India (RBI) approved the name KV Subramanian as the managing director and chief executive officer on 22 July 2024.
- Under section 35 B of the Banking Regulation Act 1949, appointing a Chairman, managing director, or chief executive officer to an Indian private sector bank requires the RBI's approval.
- According to the RBI norm, a bank's non-promoter can be appointed for a maximum term of 15 years.
- Shyam Srinivasan took over as the bank's MD & CEO in 2010. The RBI refused the bank's proposal to give Shyam Srinivasan a further one-year extension.
- After the refusal of the RBI, the bank proposed the name of KV Subramanian as the MD & CEO of the bank.
About KV Subramanian
KV Subramanian did his B tech from the Indian Institute of Technology -Varanasi and MBA from Jamnalal Bajaj Institute of Management Studies Mumbai.
He was the joint managing director of Kotak Mahindra Bank till April 2024.
About Federal Bank
The private sector Federal Bank was established as Travancore Federal Bank Limited on 23 April 1931.
The bank was renamed as Federal Bank Limited in December 1949.
The Bank became a scheduled commercial bank in July 1970.
Headquarters: Aluva, Kochi, Kerala
MD & CEO: Shyam Srinivasan
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