Federal Bank , a prominent player in the Indian banking sector, has announced a significant change in its senior management. Ms. Bincy Cherian has been appointed as the Chief of Internal Vigilance, effective August 1, 2025. This appointment marks a notable step in the bank's commitment to maintaining robust internal controls and vigilance mechanisms.

New Role and Designation

Ms. Cherian will be designated as Senior Vice President and Chief of Internal Vigilance, becoming part of the bank's senior management personnel. She previously served as Senior Vice President & Deputy Chief Vigilance Officer, demonstrating her progression within the organization.

Extensive Experience and Qualifications

Bincy Cherian brings a wealth of experience to her new position, with over 26 years in the banking industry. Her career at Federal Bank has been marked by significant achievements, including:

• Leading large corporate credit portfolios
• Holding key leadership roles across various verticals, including the Large Corporate Hub

Her educational background and professional certifications include:

• Postgraduate degree in Agriculture
• Certified Associate of the Indian Institute of Bankers
• CICC certification by Moody's Analytics

Responsibilities and Expectations

In her new role, Ms. Cherian will oversee the bank's internal vigilance function. This position is crucial for maintaining the integrity of the bank's operations and ensuring compliance with regulatory standards.

Corporate Governance Implications

Federal Bank's decision to appoint Ms. Cherian to this critical role underscores the bank's commitment to strong corporate governance practices. The bank has confirmed that Ms. Cherian is not related to any director of the bank, ensuring independence in her role.

Conclusion

This appointment comes at a time when banks are increasingly focusing on strengthening their internal control mechanisms. Ms. Cherian's extensive experience and qualifications position her well to contribute significantly to Federal Bank's vigilance and compliance efforts.

The bank's shareholders and stakeholders will likely watch with interest as Ms. Cherian takes on this crucial role, potentially influencing the bank's risk management and corporate governance strategies.

Federal Bank Limited (NSE: FEDERALBNK, BSE: 500469) has announced two new employee stock option schemes and set the date for its 94th Annual General Meeting (AGM). The bank's Board of Directors approved these significant decisions during a meeting held on July 30, 2025.

New Employee Stock Option Schemes

The Board has greenlit two new employee stock option schemes, subject to shareholder approval:

1. ESOS 2025 (Employee Stock Option Scheme 2025):

   • Covers up to 2,45,58,291 options (1% of paid-up equity shares)
   • Exercise price set at fair market value

2. ESIS 2025 (Employee Stock Incentive Scheme 2025):

   • Covers up to 1,47,34,974 options (0.60% of paid-up equity shares)
   • Exercise price set at face value of ₹2 per option

These schemes aim to align employee interests with those of the shareholders and promote long-term value creation.

Key Features of the Schemes

The Nomination and Remuneration Committee (NRC) will oversee the implementation and administration of both schemes.

94th Annual General Meeting

Federal Bank has scheduled its 94th AGM for August 29, 2025, to be held via video conferencing. Key dates related to the AGM include:

• AGM Date: August 29, 2025, at 11:00 AM
• Book Closure: August 23-29, 2025 (both days inclusive)
• Cut-off Date: August 22, 2025, for e-voting eligibility and final dividend entitlement

Investor Meet

The bank has also announced an analyst and investor meet scheduled for August 5, 2025, at Taj Coromandel, Chennai. The meeting will host representatives from various mutual funds, asset management companies, and investment firms.

These developments underscore Federal Bank's commitment to employee engagement and transparent communication with its stakeholders. The new stock option schemes, in particular, demonstrate the bank's focus on aligning employee interests with long-term corporate goals.