Tamilnad Mercantile Bank Ltd - 543596 - Tamilnad Mercantile Bank Limited Has Informed The Exchange Regarding ''Recent Developments In The Process Of Appointment Of Managing Director And Chief Executive Officer Of The Bank''.
Pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements), Regulations, 2015 ('Listing Regulations'), we wish to inform that, pursuant to the recommendation of the Nomination and Remuneration Committee of the Board and pursuant to the Banking Regulation Act 1949 and the extant norms of the Reserve Bank of India ('RBI'), the Board of Directors of the Bank in its meeting held today i.e., November 22, 2023, has finalized the names of 3 candidates, in the order of preference, for the position of the Managing Director & Chief Executive Officer ('MD & CEO') of the Bank. As per the extant RBI norms, the Bank has submitted an application to Reserve Bank of India with the names of the candidates in the order of preference, seeking approval for the appointment of the new MD & CEO of the Bank. On receipt of RBI approval, the Bank shall duly make the requisite disclosures pursuant to the Listing Regulations.22-11-2023