RBI approves appointment of Madhavan Menon as part-time chairman of CSB

The RBI on Tuesday approved the appointment of Madhavan Menon as Part-time Chairman of the Catholic Syrian Bank (CSB) for a period of one year from the date of appointment 

Menon is currently the chairman and managing director of Thomas Cook India.

Earlier, Fairfax had nominated Menon and Sumit Maheshwari, MD & CEO of Fairbridge Capital (owned by the Fairfax Financial Holdings) to the CSB board. 

CSB and FIH Mauritius Investments Ltd (FIH-M) entered into an investment agreement in February 2018. The agreement was modified on October 15, 2018, and pursuant to which, Fairfax agreed to acquire shares of up to 51 per