Koshie joins Federal Bank as director

Grace Elizabeth Koshie has worked with RBI for over three and a half decades

Federal Bank today said Grace Elizabeth Koshie has joined its board as a director. Koshie, who headed the foreign exchange department of the Reserve Bank of India's (RBI) central office from 2001 to 2004, is the first lady director in Federal Bank's board.

"The bank thus becomes one of the few listed companies, which has complied with the latest regulatory directions in the Companies Act, 2013, which requires a lady director to be on the board," the private lender said in a statement.

Koshie, a post-graduate in economics from the Bombay University, has worked with RBI for over three and a half decade. She had earlier served as RBI's nominee director on the boards of Dena Bank and Corporation Bank. Federal bank said she will bring a perspective on compliance and governance to its board.