South Indian Bank has announced a revision in its Marginal Cost of Funds Based Lending Rates (MCLR) across multiple tenors, effective March 20, 2026. The bank formally communicated this rate adjustment to the National Stock Exchange of India and BSE Limited under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Revised MCLR Structure

The bank has implemented a tiered rate structure across different tenor periods, reflecting varying cost considerations for different lending durations. The revised rates demonstrate a progressive increase from short-term to long-term tenors.

Rate Structure Analysis

The revised MCLR structure shows a significant jump between one-month and three-month tenors, with rates increasing from 8.45% to 9.40%. The progression then moderates, with six-month rates at 9.45% and one-year rates reaching 9.50%. This structure indicates the bank's pricing strategy for different maturity segments.

Regulatory Compliance and Disclosure

The rate revision was communicated through an official letter dated March 18, 2026, signed by Company Secretary Jimmy Mathew. The bank has ensured compliance with regulatory disclosure requirements by informing both major stock exchanges simultaneously. Additionally, the updated MCLR information has been published on the bank's official website at www.southindianbank.bank.in for broader stakeholder access.

Implementation Timeline

The new MCLR rates became effective from March 20, 2026, providing borrowers and market participants with advance notice of the rate changes. This implementation timeline allows for proper adjustment and planning by existing and prospective borrowers who may be affected by the revised lending rate structure.

South Indian Bank has announced the allotment of 1,54,754 equity shares under its SIB ESOS Scheme-2008 on February 26, 2026. The allotment was approved by the bank's Nomination and Remuneration Committee and executed in compliance with SEBI regulations governing employee stock option schemes.

Share Allotment Details

The allotment comprised shares from three different tranches of the employee stock option scheme, each with distinct exercise prices and grant dates:

Capital Structure Impact

Following the share allotment, South Indian Bank's capital structure has been updated significantly. The bank's issued and subscribed capital now stands at Rs. 2,61,74,95,416.00, comprising 2,61,74,95,416 equity shares of Re. 1/- each.

Regulatory Compliance

The allotment was conducted pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank also ensured compliance with the Securities and Exchange Board of India (Share Based Employee Benefit and Sweat Equity) Regulations, 2021.

The bank has fulfilled its disclosure obligations by informing both the National Stock Exchange of India Ltd. and BSE Ltd. about the allotment. Additionally, the information has been made available on the bank's official website for stakeholder access.

Employee Stock Option Scheme Framework

The SIB ESOS Scheme-2008 enables eligible employees to acquire equity shares at predetermined exercise prices. The recent allotment demonstrates the continued utilization of this scheme by employees, with exercise prices varying based on the grant date and market conditions at the time of grant. The scheme serves as an employee retention and motivation tool while providing employees with ownership participation in the bank's growth.