Private sector Karur Vysya Bank today said the RBI has given its nod for the appointment of Independent Director B Swaminathan as the Non-Executive (Part-Time) Chairman of the bank for three years.
The Board of the Tamil Nadu-based bank had recommended Swaminathan in November 2015 for the post, subject to the approval of country's apex bank.
In a notification to stock exchanges today, Karur Vysya Bank said that RBI has conveyed its approval for Swaminathan's appointment as Non-Executive part-time Chairman for a three-year period.
Shares of the bank were trading at Rs 459.80 apiece, up by 2.57 per cent over previous close in afternoon BSE.
