Meeting Details

  • Date: Tuesday, July 21, 2026
  • Time: 11:00 a.m.
  • Location: Exclusively through Video Conferencing (VC)/Other Audio-Visual Means (OAVM)
  • Type: 22nd Annual General Meeting
  • Record Date: Tuesday, July 14, 2026 (for determining voting rights)

Proposed Resolutions and Implications

Ordinary Business

1. Adoption of Financial Statements: To receive, consider and adopt the Audited Financial Statements of the Bank for the year ended March 31, 2026 along with Reports of Board of Directors & Auditors.

2. Re-appointment of Director: To re-appoint Shri Sumit Phakka (DIN: 08259618), Deputy Managing Director as Rotational Director who retires by rotation.

Special Business

3. Appointment of Independent Director: To appoint Shri Abhijit Chakravorty (DIN: 09494533) as Independent Director for a term of two consecutive years effective from May 19, 2026.

4. Appointment of Independent Director: To appoint Shri Ketan Shivji Vikamsey (DIN: 00282877) as Independent Director for a term of two consecutive years effective from June 26, 2026.

5. Re-appointment of Deputy MD: To re-appoint Shri Jayakumar S. Pillai (DIN: 10041362) as Deputy Managing Director for a term of one year commencing from June 12, 2026, as approved by RBI vide letter dated May 19, 2026.

6. Related Party Transactions: To approve contracts/arrangements/transactions with LIC Mutual Fund (a related party) with a proposed limit of ₹10,030 crore for FY 2026-27.

Voting Process and Methods

  • Voting Methods: Remote e-voting and e-voting during AGM
  • Remote e-voting Period: Friday, July 17, 2026 (9:00 a.m.) to Monday, July 20, 2026 (5:00 p.m.) through NSDL platform
  • E-voting Platform: National Securities Depository Limited (NSDL)
  • Login Methods: Through demat accounts (NSDL/CDSL) or physical folio numbers
  • Cut-off Date: Tuesday, July 14, 2026 for determining voting rights

Key Voting Outcomes

  • Quorum Requirement: Thirty members (including duly authorized representative of LIC) present through VC as per Section 103 of Companies Act, 2013 read with Article 87
  • Voting Rights: Proportional to share in paid-up equity share capital as on cut-off date
  • Results Declaration: On or before Thursday, July 23, 2026 on Bank's website and NSDL website

Scrutinizer's Role and Findings

  • Scrutinizer Appointed: Ms. Aparna Gadgil or failing her Mr. S. N. Viswanathan, Partners of M/s. S. N. Ananthasubramanian & Co., Company Secretaries
  • Role: To conduct the e-voting process in fair and transparent manner
  • Report: Scrutinizer's report along with voting results will be announced by July 23, 2026

Compliance with Laws and Regulations

The notice confirms compliance with:

  • SEBI (LODR) Regulations, 2015
  • Companies Act, 2013
  • Banking Regulation Act, 1949
  • Articles of Association of the Bank
  • RBI guidelines and circulars

Additional Financial and Procedural Information

  • Annual Report: Being sent electronically to members whose email addresses are registered with KFin Technologies Limited (RTA) or depositories
  • Physical Copies: Available on request for shareholders who specifically ask for them
  • AGM Participation: Limited to 1000 members on first-come-first-served basis (excluding large shareholders, promoters, institutional investors, directors, etc.)
  • Register of Members: Will remain closed from Wednesday, July 15, 2026 to Tuesday, July 21, 2026 (both days inclusive)
  • Related Party Transaction Threshold: Materiality threshold for FY 2026-27 is ₹2,781.56 crore based on FY 2025-26 consolidated turnover of ₹35,631.19 crore

Director Profiles

  • Shri Abhijit Chakravorty: Postgraduate in Applied Chemistry, CAIIB, former Deputy MD of SBI with over three decades of banking experience
  • Shri Ketan Vikamsey: Senior Partner of KKC & Associates LLP, Chartered Accountant with certifications in IFRS, DISA, and various professional qualifications
  • Shri Jayakumar S. Pillai: BFSc, MBA(Finance), PGDFT, Diploma in Governance, Risk & Compliance, CAIIB, currently heads Corporate Business vertical at IDBI Bank