Karur Vysya Bank Limited has initiated a postal ballot process to seek shareholder approval for the appointment of Dr. Mythili Vutukuru as a Non-Executive Independent Director. The bank's Board of Directors, based on recommendations from the Nomination and Remuneration Committee, has proposed Dr. Vutukuru's appointment for a three-year term from September 24, 2025, to September 23, 2028.

Key Details of the Appointment

Dr. Vutukuru's Profile

Dr. Mythili Vutukuru brings significant expertise in Information Technology to Karur Vysya Bank's board:

• Currently an Associate Professor in the Department of Computer Science and Engineering at IIT Bombay
• Holds a Ph.D. in Electrical Engineering and Computer Science from MIT
• Specializes in operating systems, computer networking, virtualization, and cloud computing
• Member of the Standing Committee on Technology at NSE Clearing Limited since 2021

Voting Process

Shareholders can cast their votes through remote e-voting, which will be conducted from November 21, 2025 (10:00 A.M. IST) to December 20, 2025 (05:00 P.M. IST). The bank has engaged the services of National Securities Depository Limited (NSDL) for the e-voting process.

Regulatory Compliance

The appointment is subject to shareholder approval as per Regulation 17(1C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank is required to obtain this approval within three months of the appointment or at the next general meeting, whichever is earlier.

Bank's Rationale

Karur Vysya Bank aims to enhance its board's expertise in Information Technology, aligning with the Banking Regulation Act, 1949's requirement for special knowledge or practical experience in bank boards. Dr. Vutukuru's appointment is expected to contribute to the bank's technological governance and strategic direction.

Shareholders are encouraged to review the detailed postal ballot notice and participate in the voting process to decide on this significant board appointment.

Karur Vysya Bank (KVB) has taken a significant step in its employee compensation program by approving the allotment of equity shares under its Employee Stock Option Scheme (ESOS). The bank's board of directors made this decision during a recent meeting, demonstrating its commitment to employee incentivization and retention.

Key Details of the Allotment

Implications for Stakeholders

The allotment of these equity shares under the ESOS has several implications:

1. Employee Benefits: Participating employees now have the opportunity to become shareholders, aligning their interests more closely with the bank's performance.

2. Capital Structure: The issuance of new shares will result in a slight dilution of existing shareholdings, albeit minimal given the relatively small number of shares involved.

3. Regulatory Compliance: This allotment was made in accordance with SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, as intimated by the bank to the stock exchanges.

Market Impact

While the immediate market impact of this allotment may be limited due to the relatively small number of shares involved, it signifies the bank's ongoing commitment to its human capital. Such employee-centric initiatives often contribute positively to long-term employee satisfaction and productivity, which can indirectly benefit shareholders over time.

As Karur Vysya Bank continues to execute its employee compensation strategy, stakeholders will be keen to observe how such initiatives impact the bank's overall performance and employee retention rates in the competitive banking sector.