South Indian Bank has received regulatory approval from the Reserve Bank of India (RBI) for the appointment of José Joseph Kattoor as Non-Executive Part-Time Chairman. This development marks an important step in the bank's leadership transition and governance structure.

Regulatory Approval Details

The RBI's clearance for José Joseph Kattoor's appointment demonstrates the central bank's confidence in the proposed leadership structure. The approval process for senior banking positions involves rigorous scrutiny of candidates' qualifications, experience, and fit-and-proper criteria as mandated by banking regulations.

Leadership Transition

The appointment of a Non-Executive Part-Time Chairman represents a key governance milestone for the bank. This role typically involves strategic oversight and board leadership while maintaining independence from day-to-day operational management. The RBI's approval ensures that the appointment meets all regulatory standards for banking sector leadership positions.

Regulatory Compliance

The RBI approval process for senior banking appointments involves comprehensive evaluation of candidates against established criteria. This regulatory clearance confirms that José Joseph Kattoor meets the necessary qualifications and standards required for the chairman position at the private sector bank.

South Indian Bank announced a significant leadership transition as its Managing Director & CEO, P R Seshadri, has decided not to seek reappointment after his current term ends. The decision was formally communicated during the Board of Directors meeting held on January 29, 2026.

Leadership Transition Details

Mr. P R Seshadri informed the Board of his decision not to offer himself for reappointment, citing his intention to pursue activities of personal interest following the completion of his current tenure. The current MD & CEO will continue to serve in his capacity until his term concludes on September 30, 2026.

Succession Planning Process

The Board of Directors has proactively initiated the succession planning process to ensure a smooth leadership transition. The bank's leadership has outlined a comprehensive approach to identify and appoint a suitable successor for the critical MD & CEO position.

Key aspects of the succession planning include:

• Identification and shortlisting of suitable candidates
• Completion of the formal appointment process
• Obtaining necessary regulatory approval from the Reserve Bank of India
• Securing approval from the bank's shareholders

Regulatory Compliance

The announcement was made in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The bank has ensured transparency by hosting the information on its official website at www.southindianbank.bank.in , demonstrating adherence to disclosure requirements.

Next Steps

The Board has resolved to expedite the appointment process to ensure continuity in leadership. The bank will work closely with regulatory authorities and stakeholders to complete all necessary approvals and formalities for the new MD & CEO appointment before September 30, 2026.