"Balasubramanian vacated the office of part-time Non-Executive Chairman of the bank at the close of business hours on May 3 on account of his superannuation," the Tamil Nadu-based bank said in a BSE filing.
Balasubramanian took over as the Non-Executive Chairman in May 2011. He joined the bank in 1971 as a probationary officer and became the Managing Director and CEO in 2009.
The board recommended Independent Director S Mahalingam for the post of non-executive chairman and the approval from Reserve Bank is awaited, it added.
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