Karur Vysya Bank has announced a revision in its Marginal Cost of Funds Based Lending Rates (MCLR) across all tenor categories, with the new rates taking effect from April 22, 2026. The bank communicated this development to stock exchanges under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.

MCLR Rate Revisions

The bank has implemented a uniform increase of 5 basis points across all MCLR categories. The revised rate structure demonstrates a systematic adjustment in the bank's lending rate framework.

Impact on Borrowing Costs

The revision affects the bank's lending rate structure uniformly across different tenor categories. The overnight MCLR, which serves as the base rate for the shortest tenor, has been increased from 8.80% to 8.85%. The one-month and three-month MCLR rates, previously at 8.95%, have been revised to 9.00%.

For longer-term borrowings, the six-month and one-year MCLR rates have been adjusted upward from 9.10% to 9.15%. This consistent 5 basis point increase across all categories maintains the existing rate differential structure between different tenor periods.

Regulatory Compliance

The bank has fulfilled its disclosure obligations by informing both the National Stock Exchange of India and BSE Limited about the rate revision. The communication, signed by Company Secretary and Deputy General Manager Srinivasarao M, ensures transparency in the bank's pricing decisions for stakeholders and regulatory authorities.

Karur Vysya Bank has announced the resignation of a senior management personnel, with Shri Shekhar Ramarajan stepping down from his role as General Manager & Head - Corporate & Institutional Group (CIG) effective April 13, 2026. The resignation was submitted due to personal reasons, specifically citing the need to relocate to Mumbai.

Resignation Details

The bank disclosed the resignation under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Key details of the resignation are outlined below:

Management Continuity

The Corporate & Institutional Group (CIG) Division operates within the business portfolio overseen by the Executive Director. The bank has emphasized that sufficient leadership and oversight are available internally, positioning the organization well to ensure continuity in management of the CIG role requirements.

Executive's Tenure and Contribution

In his resignation letter, Ramarajan expressed gratitude for his association with the bank, describing it as "a privilege and an honor" to have been part of the institution's growth over nearly seven years. He specifically mentioned feeling proud to have been part of the bank's "Phoenixical Growth" and acknowledged the support received from the Board, senior management, and colleagues.

The executive committed to making the transition as smooth as possible and expressed wishes for the bank's continued success and growth. His resignation was formally accepted by the competent authority on April 13, 2026.

Regulatory Compliance

The bank has fulfilled all regulatory disclosure requirements, including submissions to both the National Stock Exchange of India Ltd and BSE Limited. The disclosure includes the resignation letter and required annexures as per SEBI Master Circular guidelines dated January 30, 2026.