The South Indian Bank Limited Announces 98th AGM and Key Leadership Appointments

The South Indian Bank Limited Announces 98th AGM and Key Leadership Appointments​

The South Indian Bank Limited has announced the details of its 98th Annual General Meeting (AGM) and several significant corporate actions following a Board meeting held on July 16, 2026. The proceedings included approvals for the annual general meeting, fund-raising initiatives, and key leadership appointments.

AGM Schedule and Book Closure​

The Bank will conduct its 98th Annual General Meeting on Thursday, August 20, 2026. The meeting is scheduled to be held via Video Conferencing (VC) and other Audio Visual Means (OAVM).

To facilitate the AGM, e-voting, and the declaration of dividends for the financial year ended March 31, 2026, the Register of Members and Share Transfer Books of the Bank will remain closed from August 14, 2026, to August 20, 2026.

The Bank has established Thursday, August 13, 2026, as the Record Date for determining members eligible to receive dividends and for remote e-voting participation during the AGM.

Fundraising Initiatives​

The Board has approved a proposal for the Bank to raise funds in Indian or equivalent foreign currency through the issuance of debt instruments and securities. This includes non-convertible debentures, Bonds (including Tier II capital under Basel III Capital Regulations), Medium Term Notes (MTN), and long-term infrastructure bonds.

The proposed borrowing limit is up to Rs. 1,000.00 Crore. These funds may be raised in the domestic or overseas markets on a private placement basis for a period of one year from the date of approval. The Board has recommended this proposal to shareholders for approval via a Special Resolution at the upcoming Annual General Meeting.

Leadership and Director Appointments​

The Board has put forward several key recommendations regarding the leadership and board composition of the Bank:

Management Appointment:
The Board recommended the appointment of Sri. Mahesh Muralidhar Pai (DIN: 09164982) as the Managing Director and Chief Executive Officer of the Bank. The proposed term of appointment is for three years, effective from October 1, 2026, until September 30, 2029.

Independent Director Re-appointment:
The Board recommended the re-appointment of Smt. Lakshmi Ramakrishna Srinivas (DIN: 10365580) as an Independent Director for a second consecutive term of five years, effective from November 20, 2026.

Board Vacancy:
To fill the vacancy created by Sri. Dolphy Jose (DIN: 10682246), who is retiring by rotation under Section 152 of the Companies Act, 2013, the Board has recommended the appointment of a suitable director to be approved by members at the AGM.

SOUTHBANK Stock Price Movement​

The South Indian Bank Limited shares today slipped by 0.48% to settle at ₹45.39 after the market closed. The stock traded with a volume of 35.50 million shares during the session.