Karur Vysya Bank has completed the dispatch of its postal ballot notice on March 17, 2026, seeking shareholder approval for the re-appointment of two key directors through a remote e-voting process. The bank has also published newspaper notifications regarding the dispatch in compliance with regulatory requirements.

Postal Ballot Notice Dispatch Completed

The bank successfully dispatched the postal ballot notice dated March 04, 2026, along with explanatory statements via email to eligible shareholders. The dispatch was completed on Tuesday, March 17, 2026, targeting members whose names appeared in the Register of Members as of the cut-off date.

Newspaper Publication Details

In compliance with SEBI LODR Regulation 30, the bank published notices regarding the postal ballot dispatch in multiple newspapers on March 18, 2026:

Key Appointments Proposed

The postal ballot covers two significant appointments requiring shareholder approval:

Managing Director Re-appointment Details

Shri B Ramesh Babu's proposed re-appointment spans from July 29, 2026 to July 28, 2028, marking his third term as Managing Director & CEO. The compensation structure includes:

Fixed Pay Components

The Managing Director will be eligible for variable pay of 175% of fixed pay, comprising 50% cash component and 50% non-cash component through share-linked instruments. An annual increment of 10% on the previous year's fixed pay is also proposed after completion of one year from re-appointment.

Independent Director Re-appointment

CA Dr Chinnasamy Ganesan's re-appointment as Non-Executive Independent Director covers the period from April 25, 2026 to April 24, 2031. He currently serves as Chairman of the Audit Committee and member of various other board committees. His last drawn remuneration was ₹42.25 lakh during FY 2024-25.

E-voting Process and Timeline

The bank has engaged National Securities Depository Limited (NSDL) to facilitate the remote e-voting process:

Shareholders whose names appear on the Register of Members as on the cut-off date will be entitled to vote. The postal ballot notice is being sent only through email to registered email addresses.

Performance Highlights

Under Shri B Ramesh Babu's leadership from FY 2020 to December 2025, the bank has demonstrated significant growth:

The bank achieved the milestone of ₹2 trillion business and received recognition as 'Best Small Indian Bank' by Business Today Magazine for the third consecutive year in FY 25.

Regulatory Approvals and Next Steps

Both appointments are subject to approval from the Reserve Bank of India. The bank has already applied for RBI approval for the Managing Director's re-appointment. Results of the postal ballot will be announced within two working days from the conclusion of e-voting and will be available on the bank's website and stock exchange platforms. The resolution, if approved, shall be deemed to have been passed on Friday, April 17, 2026.

Karur Vysya Bank has been assigned an Environmental, Social and Governance (ESG) score of 74 for the Financial Year 2024-25 by NSE Sustainability Ratings and Analytics Limited. The bank informed stock exchanges about this development through a regulatory filing dated March 10, 2026.

ESG Rating Details

The ESG assessment was conducted by NSE Sustainability, a SEBI registered ESG Rating Provider under Category I. The rating communication was received by the bank on March 09, 2026, as part of the rating agency's annual ESG assessment process.

Independent Assessment Process

The bank emphasized that it did not engage NSE Sustainability Ratings and Analytics Limited for this ESG rating. The score of 74 was independently determined by the rating agency based on public disclosures made by the bank and other publicly available information pertaining to the Financial Year 2024-25.

This independent assessment approach reflects the rating agency's methodology of evaluating companies' ESG performance using publicly accessible data and disclosures, without requiring direct engagement or payment from the rated entity.

Regulatory Compliance

The intimation was made pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as amended. The communication was signed by Srinivasarao M, Company Secretary and Deputy General Manager of Karur Vysya Bank, and was digitally signed on March 10, 2026.

The ESG score of 74 represents the bank's performance across environmental, social, and governance parameters for FY2024-25, providing stakeholders with an independent assessment of the bank's sustainability practices and corporate governance standards.