South Indian Bank has announced a comprehensive revision of its Marginal Cost of Funds Based Lending Rates (MCLR) across multiple tenors, effective February 20, 2026. The bank formally communicated this rate adjustment to both the National Stock Exchange and BSE under Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015.

Revised MCLR Structure

The bank has implemented a tiered rate structure across five different tenors, reflecting varying cost considerations for different lending periods. The revised rates demonstrate a progressive increase from short-term to long-term tenors.

Rate Structure Analysis

The revised MCLR structure shows a significant jump between the one-month and three-month tenors, with rates increasing from 8.40% to 9.35%. The progression from three-month to one-year tenors shows a more gradual increase, with only a 10 basis points difference between the six-month and one-year rates.

Regulatory Compliance and Transparency

The rate revision follows proper regulatory protocols, with the bank ensuring compliance with SEBI's disclosure requirements. Company Secretary Jimmy Mathew signed the official communication on February 18, 2026, providing advance notice to market participants and stakeholders. The bank has also committed to hosting this information on its official website at www.southindianbank.bank.in for broader accessibility.

Market Communication

The formal notification was simultaneously sent to both major stock exchanges where the bank's shares are listed. The communication included complete details of the revised rate structure and emphasized the effective date of implementation, ensuring transparency in the bank's lending rate adjustments.

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.