Utkarsh Small Finance Bank has successfully completed its postal ballot voting process through electronic voting, with shareholders approving all three proposed resolutions by overwhelming majorities. The bank declared the results on March 02, 2026, following the conclusion of the e-voting period on February 28, 2026.

Postal Ballot Overview

The postal ballot process was conducted in accordance with Regulation 44 of the SEBI Listing Regulations, with Mr. Avinash Bagul of BNP & Associates serving as the scrutinizer. The e-voting period commenced on Friday, January 30, 2026, at 9:00 A.M. and concluded on Saturday, February 28, 2026, at 5:00 P.M.

Resolutions and Results

The bank sought shareholder approval for three key resolutions, all of which received strong support from the voting members.

Resolution 1: Director Appointment

The appointment of Dr. Ram Jass Yadav (DIN: 08911900) as Non-Executive Non-Independent Director was approved as an ordinary resolution with exceptional support.

Resolution 2: Independent Director Re-appointment

The re-appointment of Mr. Ajay Kumar Kapur (DIN: 00108420) as Independent Director was passed as a special resolution with strong shareholder backing.

Resolution 3: CEO Remuneration Approval

Shareholders approved the payment of remuneration to Mr. Govind Singh, Managing Director & CEO (DIN: 02470880) for FY 2025-26 through a special resolution.

Regulatory Compliance and Process

The postal ballot process was conducted in full compliance with the Companies Act, 2013, and various MCA circulars. The bank engaged KFin Technologies Limited as the Electronic Voting Service Provider, ensuring a transparent and secure voting process.

Key aspects of the process included:

• Advertisement in national newspapers including Financial Express, Aaj, and Jansatta on January 30, 2026
• Postal ballot notice sent via email to registered shareholders on January 29, 2026
• Voting results unblocked in presence of independent witnesses Mr. Shreyash Bhogal and Mr. Sarvesh Palkar
• Complete documentation maintained by the scrutinizer for regulatory compliance

Conclusion

The successful completion of the postal ballot process with overwhelming shareholder approval across all resolutions demonstrates strong confidence in Utkarsh Small Finance Bank's leadership and strategic direction. All resolutions are deemed passed effective February 28, 2026, and the results have been made available on the bank's website and stock exchange platforms.

Utkarsh Small Finance Bank Limited has announced a change in its Board composition with the cessation of Mr. Muralidharan Rajamani as Non-Executive Non-Independent Director effective March 02, 2026. The announcement was made through a regulatory filing under Regulation 30 of SEBI Listing Obligations and Disclosure Requirements Regulations, 2015.

Director Tenure Completion

Mr. Muralidharan Rajamani (DIN: 01690363) completed his first term of five consecutive years as Non-Executive Non-Independent Director on March 01, 2026. Following the completion of his tenure, he ceased to hold the position from March 02, 2026. The bank has placed on record its sincere appreciation for the contributions made by Mr. Rajamani during his tenure on the Board.

Regulatory Compliance Details

The cessation details have been disclosed in accordance with regulatory requirements:

Personal Decision Not to Seek Reappointment

In his cessation letter dated March 01, 2026, Mr. Rajamani indicated that he chose not to offer himself for reappointment due to personal commitments. He expressed gratitude for the opportunity to be associated with the bank, describing the journey as enriching both professionally and personally. The director thanked the Board members, MD and CEO, and the bank's executives for the collaborative experience during his tenure.

Corporate Governance Framework

The announcement demonstrates the bank's adherence to corporate governance practices and regulatory compliance requirements. The disclosure has been made available on the bank's website at www.utkarsh.bank.in , ensuring transparency for stakeholders. The bank filed comprehensive documentation including the regulatory disclosure format and the director's cessation letter as required annexures.

Bank's Acknowledgment

Utkarsh Small Finance Bank has formally acknowledged Mr. Rajamani's service and contributions to the organization. The bank's management expressed appreciation for his involvement in Board activities and strategic guidance provided during his five-year tenure. This transition represents a natural conclusion to the director's term as per corporate governance norms for financial institutions.