Suryoday Small Finance Bank has received approval from the Reserve Bank of India (RBI) for the revised remuneration package of its Executive Director. This development marks a significant step in the bank's corporate governance and regulatory compliance efforts.

Key Details of the Approval

The RBI's approval, granted through a letter dated October 20, 2025, encompasses the following:

The approved remuneration package falls within the limits previously sanctioned by the bank's shareholders at the 17th Annual General Meeting held on September 11, 2025.

Regulatory Compliance

The approval aligns with Regulation 35B of the Banking Regulation Act, 1949, underscoring the bank's commitment to regulatory adherence. This move also reflects Suryoday Small Finance Bank's transparency in executive compensation matters, a crucial aspect of corporate governance in the banking sector.

Shareholder Alignment

By securing this approval, Suryoday Small Finance Bank demonstrates its dedication to maintaining shareholder trust. The remuneration package, having been pre-approved by shareholders and now endorsed by the RBI, indicates a balanced approach to executive compensation that considers both regulatory requirements and shareholder interests.

Disclosure and Transparency

In compliance with SEBI regulations, Suryoday Small Finance Bank has promptly disclosed this information to the stock exchanges. The bank has also made the intimation available on its official website, ensuring transparency and easy access to this critical information for all stakeholders.

This development showcases Suryoday Small Finance Bank's commitment to regulatory compliance, transparent governance, and stakeholder communication. As the banking sector continues to evolve, such practices are crucial for maintaining investor confidence and ensuring sustainable growth.

The Reserve Bank of India (RBI) has given its approval for the re-appointment of Baskar Babu Ramachandran as the Managing Director & Chief Executive Officer (MD & CEO) of Suryoday Small Finance Bank Limited. This decision extends Ramachandran's tenure for an additional three years, from January 23, 2026, to January 22, 2029.

Key Details of the Re-appointment

Background and Experience

Baskar Babu Ramachandran has been a pivotal figure in Suryoday Small Finance Bank's journey. He co-founded Suryoday Micro Finance Private Limited in 2008, which later transformed into Suryoday Small Finance Bank in January 2017. His educational background includes:

• Bachelor's Degree in Mechanical Engineering from the University of Madras
• MBA from Pondicherry University
• Participation in a management development program for Strategic Management for corporate leadership at Indian Institute of Management – Calcutta

Ramachandran's extensive experience in the banking and finance sector includes associations with prominent organizations such as GE Capital Transportation Financial Services, HDFC Bank, and Cholamandalam.

Regulatory Compliance and Approval Process

The re-appointment follows a series of regulatory steps:

1. Shareholders' approval at the 17th Annual General Meeting held on September 11, 2025
2. RBI approval received on October 16, 2025
3. Compliance with Section 35B of the Banking Regulation Act, 1949

The bank has confirmed that Ramachandran is not related to any other Director or Key Managerial Personnel and is not debarred from holding directorial positions by any regulatory authorities.

This re-appointment reflects the confidence of both the RBI and the bank's shareholders in Ramachandran's leadership and vision for Suryoday Small Finance Bank Limited. As the bank continues to navigate the evolving landscape of small finance banking in India, Ramachandran's extended tenure is expected to provide stability and continuity in its strategic direction.