DCB Bank has appointed Pushan Mahapatra as its Non-Executive Part-time Chairman, effective June 12, 2026, following approval from the Reserve Bank of India (RBI). The appointment is valid until March 09, 2029, and was approved by the Board of Directors via resolution on the same day, in compliance with the Banking Regulation Act, 1949.

Appointment Details

The key details of the appointment are as follows:

Profile and Experience

Mahapatra is a career banker with over 40 years of experience, including 35 years with the SBI group. He has held senior leadership positions spanning retail and corporate banking, technology, compliance, and audit. His previous roles include serving as Vice President (Systems & Internal Audit) at SBI's Hong Kong Branch for over four years and as MD & CEO of SBI General Insurance Co. Ltd. for nearly five years.

Currently, Mahapatra serves as a Non-Executive Director with Zurich Kotak General Insurance Co. (India) Ltd, a joint venture of the Zurich Insurance Group, since June 2024. He also holds the position of Independent Director on the Board of Angel One Trustee Limited.

Regulatory Disclosure

The appointment was disclosed to the stock exchanges in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The filing was signed by Rubi Chaturvedi, Company Secretary & Compliance Officer of DCB Bank.

DCB Bank has scheduled its 31st Annual General Meeting (AGM) for Friday, July 03, 2026, at 2.30 p.m. IST via Video Conferencing. The meeting will transact ordinary business, including the adoption of audited financial statements for the year ended March 31, 2026, and the declaration of a dividend of ₹1.45 per equity share. Shareholders will also vote on special resolutions to raise funds up to ₹500 Crore through bonds and debentures on a private placement basis and up to ₹1,500 Crore through Qualified Institutions Placement (QIP).

Dividend and Record Date

The Board has recommended a dividend of ₹1.45 per equity share of face value ₹10 each for FY 2025-26. The Bank has fixed Friday, June 12, 2026, as the record date to determine shareholder eligibility. If approved, payment is scheduled on or after Saturday, July 04, 2026. The dividend is subject to tax deductions under the Income Tax Act, 2025.

Capital Raising Plans

Shareholders will consider raising funds up to ₹500 Crore through the issue of debt securities, including Unsecured Redeemable Taxable Non-Convertible Subordinated Basel III Compliant Additional Tier I and/or Tier II Bonds, on a private placement basis. Additionally, the AGM will seek approval to raise up to ₹1,500 Crore by issuing Equity Shares or other securities convertible into Equity Shares through Qualified Institutions Placement (QIP). The proceeds from the QIP are intended to support the growth of secured retail assets and strengthen the capital base.

Director and Auditor Appointments

The AGM will consider the re-appointment of Mr. Krishnan Sridhar Seshadri as Whole-Time Director (Executive Director) for one year effective June 13, 2026, with remuneration as approved by the RBI. Shareholders will also vote on the appointment of M/s Deloitte Haskins & Sells as Joint Statutory Auditors for a period of three years from FY 2026-27 to FY 2028-29, subject to RBI approval. The re-appointment of Mr. Nadir Bhalwani, who retires by rotation, is also on the agenda.

ESOP Plan Amendment

The Board proposes to amend the Employee Stock Option Plan 2005 to introduce a new Sub-plan III. This amendment seeks to increase the maximum number of stock options from 7% to 10% of the issued and paid-up share capital, adding an additional pool of 96,61,603 equity shares. The expansion aims to enhance talent retention and provide flexibility for multi-year grant programs.