Karur vysya bank has announced the reaffirmation of its credit rating by ICRA for its Certificate of Deposit Programme. The bank informed the stock exchanges about this development on March 09, 2026, in compliance with regulatory disclosure requirements under SEBI regulations.

Credit Rating Details

ICRA has maintained the bank's existing credit rating without any changes. The rating agency reaffirmed the ICRA A1+ rating for the bank's Certificate of Deposit Programme, which covers instruments worth Rs. 10,000 crore.

Regulatory Compliance

The bank has disclosed this information pursuant to Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The communication was sent to both the National Stock Exchange of India Limited and BSE Limited on the same date the rating was received from ICRA.

Significance of ICRA A1+ Rating

The ICRA A1+ rating represents the highest credit quality category for short-term debt instruments. This rating indicates very low credit risk and reflects the rating agency's assessment of the bank's strong capacity for timely payment of financial obligations. The reaffirmation suggests continued confidence in Karur Vysya Bank's creditworthiness and financial stability.

Certificate of Deposit Programme

Certificate of Deposits are negotiable money market instruments issued by banks to raise short-term funds. The reaffirmation of the ICRA A1+ rating for this programme indicates that the bank maintains its strong position in the money market and continues to be viewed favorably by the rating agency for its short-term funding instruments.

Karur Vysya Bank announced that its Board of Directors has approved the reappointment of CA Dr Chinnasamy Ganesan as Non-executive Independent Director for a second term. The decision was made during the board meeting held on March 04, 2026, in compliance with regulatory requirements.

Board Decision and Timeline

The board meeting, which commenced at 10.00 A.M. and concluded at 06.45 P.M., considered and approved the proposal for CA Dr Chinnasamy Ganesan's reappointment as Non-Executive Independent Director. The reappointment details are structured as follows:

Professional Background and Expertise

CA Dr Chinnasamy Ganesan brings extensive professional credentials to his role as Independent Director. He is a Chartered Accountant with over three decades of experience spanning multiple domains including audit, assurance, financial reporting, taxation, and corporate advisory services. His expertise encompasses diverse industry sectors, with particular strength in banking and financial services.

The director has built significant experience in handling both Indian and multinational clients across various sectors including automotive, IT/ITES, telecom, healthcare, banking, and financial services. His specialization in international financial reporting standards has been recognized through an Honorary Doctorate in International Financial Reporting Standards (IFRS) from a foreign university.

Banking Sector Experience

CA Dr Chinnasamy Ganesan possesses more than 29 years of extensive knowledge in bank audits and training bank officials in financial reporting. He has assisted over 80 companies in their transition to Ind AS (IFRS in India), including listed companies and large unlisted companies from major corporate groups.

His involvement in the banking sector extends to serving as an active resource person for various institutions:

• Regional Training Institute of Comptroller and Auditor General of India
• Staff training college of Indian Bank
• Indian Overseas Bank
• Reserve Bank of India
• Several other banking institutions

Current Professional Roles

Beyond his role at Karur Vysya Bank, CA Dr Chinnasamy Ganesan holds additional positions that demonstrate his continued engagement in the financial sector. He serves as an Independent Director in Belstar Microfinance Limited and is a partner in R K C G & Associates LLP, Chartered Accountants, Chennai. Previously, he served as an Independent Director on the Board of RailTel Corporation of India Limited, a Mini-Ratna Public sector undertaking under the Ministry of Railways.

Regulatory Compliance

The bank has confirmed that CA Dr Chinnasamy Ganesan is not debarred from holding the office of Director by virtue of any Securities Exchange Board of India order or any other regulatory authority. The appointment follows all regulatory requirements under SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, and the director maintains no relationships with other directors of the bank, ensuring independence in his role.