Tamilnad Mercantile Bank Limited has announced the appointment of Thiru Visvanathan Srinivasan as Additional Director by the Reserve Bank of India. The appointment comes under the provisions of Section 36AB of the Banking Regulation Act, 1949, as communicated through RBI's order dated December 19, 2025.

Appointment Details

The key details of the directorial appointment are outlined below:

Professional Background

Visvanathan Srinivasan brings extensive banking expertise to his new role. He holds a graduate degree in Mathematics, a post-graduate degree in Business Administration, and is a Certified Associate of the Indian Institute of Bankers. Additionally, he has completed a PG Diploma in Software Technology from a Government of India research institution.

With 36 years of experience at the Reserve Bank of India, Srinivasan currently manages oversight of non-bank payment system operators, including payment aggregators and prepaid payment issuers under Chennai office jurisdiction. He also manages the national clearing house for paper-based instruments under the Cheque Truncation System.

Notable Achievements and Experience

Srinivasan's career highlights include:

• Previous directorship at a Karnataka-based Regional Rural Bank
• Membership in international committees and internal committees of RBI
• Gold Medal recipient as part of the team for 24x7 implementation of Real Time Gross Settlement System

Committee Responsibilities

As Additional Director, Srinivasan will serve as a member of the following board committees:

• Audit Committee of the Board
• Special Committee of the Board for Monitoring and Follow-up of Cases of Frauds
• NPA Monitoring Committee of the Board

Regulatory Compliance

Tamilnad Mercantile Bank has confirmed that Visvanathan Srinivasan is not related to any of the existing Directors or Key Managerial Personnel of the bank. In compliance with Stock Exchange Circular dated June 20, 2018, the bank has also confirmed that he is not debarred from holding the office of Director by virtue of any SEBI order or any other authority.

The appointment notification was filed under Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, ensuring full regulatory compliance and transparency in the directorial change.

Tamilnad Mercantile Bank (TMB), a prominent player in the Indian banking sector, has successfully concluded its postal ballot process with shareholders approving key corporate governance resolutions through remote e-voting.

Postal Ballot Results Declaration

On December 29, 2025, TMB officially declared the results of its postal ballot process to the stock exchanges. The bank informed both NSE and BSE that all resolutions outlined in the postal ballot notice dated November 19, 2025, have been passed by shareholders with the requisite majority.

The resolutions were deemed passed on December 28, 2025, marking the successful conclusion of the remote e-voting period that began on November 29, 2025.

Key Approved Resolutions

Shareholders approved two significant corporate governance matters:

Director Appointments

The appointment of two Non-Executive Non-Independent Directors received shareholder approval:

Articles of Association Amendments

Shareholders also approved amendments to the bank's Articles of Association, aimed at aligning the governance structure with current regulatory requirements and ensuring compliance with banking and corporate governance norms.

E-voting Process Details

The bank successfully conducted the voting process through remote e-voting mechanism:

Regulatory Compliance

The results declaration was made in compliance with Regulation 44(3) of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. Company Secretary and Compliance Officer Swapnil Yelgaonkar signed the official communication to the exchanges, ensuring proper regulatory adherence.

Financial Foundation

These governance changes come at a time when TMB has demonstrated solid financial performance. The bank's recent financial metrics show:

The successful completion of this postal ballot process strengthens TMB's governance framework and positions the bank for continued growth. The approval of new directors and updated Articles of Association demonstrates shareholder confidence in the bank's strategic direction and commitment to maintaining high corporate governance standards.