Indian Bank has announced significant changes to its upcoming Extraordinary General Meeting (EGM) following the unopposed election of a new Shareholder Director. The bank informed stakeholders on December 30, 2025, about the cancellation of a key agenda item due to an uncontested director election process.

Director Election Process Concluded

The bank received only one valid nomination for the position of Shareholder Director by the December 26, 2025 deadline at 5:00 PM. The sole candidate details are presented below:

Regulatory Approval and Appointment

The Nomination and Remuneration Committee (NRC) of the Board conducted its meeting on December 30, 2025, and accorded "Fit & Proper" status to Shri Bhupinder Singh Bhalla in accordance with Reserve Bank of India (Commercial Banks - Governance) Directions, 2025 dated November 28, 2025.

Under Regulation 58 of the Indian Bank (Shares and Meetings) Regulations, 1999, since there was only one valid nomination against one vacancy and the candidate met the regulatory requirements, Shri Bhupinder Singh Bhalla has been deemed elected as Shareholder Director. His appointment details are as follows:

EGM Agenda Modification

Due to the uncontested election, Agenda Item No.1 of the EGM pertaining to the election of one Shareholder Director has been cancelled. The associated e-voting process (EVSN-251212006) has also been terminated as no contest exists for the director position.

The Extraordinary General Meeting will proceed as originally scheduled with the following arrangements:

• Date: January 09, 2026
• Time: 11:00 AM IST
• Mode: Video Conferencing/Other Audio Visual Means (VC/OAVM)
• Remaining Agenda: Item No.2 will be transacted as planned
• E-voting: Remote e-voting for Agenda Item No.2 (EVSN-251212007) continues per the original EGM Notice dated December 12, 2025

Corporate Communication

The bank's communication, signed by AGM & Company Secretary Dina Nath Kumar, was issued from the Corporate Office located at 254-260, Avvai Shanmugam Salai, Royapettah, Chennai – 600 014. This update ensures transparency in the corporate governance process and keeps shareholders informed about the procedural changes to the upcoming EGM.

Indian Bank has successfully completed the full redemption of its Basel III Compliant AT1 Bonds Series IV, exercising the call option on December 30, 2025. The bank disclosed this development under Regulation 57 of SEBI (LODR) Regulations, 2015, confirming the payment of both principal and interest on the debt securities.

Bond Redemption Details

The bank redeemed the entire issue through call option exercise, with the following key parameters:

The bonds were originally issued as perpetual instruments, but the bank chose to exercise its call option for full redemption on the specified date.

Interest Payment Completion

Simultaneously with the redemption, Indian Bank paid the annual interest on these AT1 bonds as scheduled:

Regulatory Compliance

The bank confirmed that both interest and redemption payments were made on the due date without any delays. This transaction represents the complete closure of the Basel III Compliant AT1 Bonds Series IV, with no remaining outstanding obligations to bondholders.

The redemption through call option exercise demonstrates the bank's proactive debt management strategy, allowing it to retire the perpetual bonds at its discretion. The timely completion of both interest payment and principal redemption reflects the bank's commitment to honoring its debt obligations as per the original terms and conditions.