Reserve Bank has refused Tamil Nadu Mercantile Bankrecommendation to appoint B Vijayadurai As part-time non-executive chairman of the lender, according to a regulatory filing. The bank had recommended this on August 20. reserve Bank of India To appoint B Vijaydurai as the part-time non-executive chairman.
“reserve bank of india The bank, vide its letter dated September 19, 2022, declined our request to appoint B Vijaydurai as part-time non-executive chairman of the bank, the bank said in a regulatory filing on Tuesday.
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The reasons for RBI’s refusal are not known.
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It said the regulator has advised it to submit a fresh proposal of another independent director for the post of part-time non-executive chairman.
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The bank made its debut on the stock exchanges on September 15, 2022 TMB On Tuesday, the BSE closed at Rs 494.05, down 0.53 per cent.
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