Change in Director / Key Managerial Personnel

Nature of changes: Multiple appointments, elevations, and reclassifications of Senior Management Personnel and Key Managerial Personnel.

Appointment 1 - Ravinder Aggarwal:

  • Name: Ravinder Aggarwal
  • DIN: Not provided
  • Role: Appointed as Head of Corporate and Institutional Group in the rank of General Manager
  • Effective date: From date of taking charge (to be informed in due course)
  • Term: Three years from date of taking charge
  • Brief profile: Career banker who served Bank of Baroda in various roles from 1999 until superannuation on April 30, 2026. Last served as General Manager - Large Corporate Banking (Underwriting). Has served in senior leadership roles in Large Corporate Banking, NBFCs, Asset Reconstruction Companies (ARCs), and Development Finance Institutions (DFIs).
  • Relationship with other directors: Not Applicable

Appointment 2 - Ramshankar R:

  • Name: Ramshankar R
  • DIN: Not provided
  • Current role: General Manager and Chief Financial Officer
  • New role: Elevated to Chief General Manager rank effective September 1, 2026, and appointed as Chief Operating Officer, Material Risk Taker and Key Managerial Personnel effective October 16, 2026
  • Effective dates: Grade elevation - September 1, 2026; COO appointment - October 16, 2026
  • Term: Until superannuation and as per terms & conditions of employment
  • Additional responsibilities: Will continue to oversee Finance and Control Department
  • Brief profile: Qualified Chartered Accountant and Diploma holder in Information Systems Audit. Working at the Bank since 2012 with 29 years of overall experience. Has held roles of Divisional Manager and CBU Head within the Bank.
  • Previous KMP: Succeeding MS Chandrasekaran whose tenure as Chief Operating Officer ends on October 15, 2026
  • Relationship with other directors: Not Applicable

Appointment 3 - Ramasamy G V:

  • Name: Ramasamy G V
  • DIN: Not provided
  • Current role: Senior Deputy General Manager and Head of Accounts and Taxation
  • New role: Elevated to General Manager rank and appointed as Chief Financial Officer and Key Managerial Personnel effective September 1, 2026
  • Effective date: September 1, 2026
  • Term: Until superannuation and as per terms & conditions of employment
  • Reporting: Will report to Ramshankar R (Chief Operating Officer)
  • Brief profile: Qualified Chartered Accountant and Licentiate Company Secretary. Served the Bank since 2007 with 35 years of overall experience. Has previously held roles of Branch Head, Credit Processing Cell Head, and Cluster Head within the Bank.
  • Previous KMP: Succeeding Ramshankar R who is transitioning to Chief Operating Officer role
  • Relationship with other directors: Not Applicable

Appointment 4 - Vippala Ramachandrareddy:

  • Name: Vippala Ramachandrareddy
  • DIN: Not provided
  • Current role: Deputy General Manager and Head of Treasury
  • New role: Elevated to General Manager and Head of Treasury, classified as Senior Management Personnel (SMP) of the Bank
  • Effective date: June 23, 2026
  • Term: Until superannuation and as per terms & conditions of employment
  • Brief profile: Has served the Bank since 2017 with 33 years of overall experience. Has been serving as Head of Treasury since 2022.
  • Relationship with other directors: Not Applicable

Appointment 5 - Ramu S:

  • Name: Ramu S
  • DIN: Not provided
  • Current role: Senior Deputy General Manager and Head of Legal & Recoveries
  • New role: Classified as Senior Management Personnel (SMP) of the Bank
  • Effective date: June 23, 2026
  • Term: Until superannuation and as per terms & conditions of employment
  • Brief profile: Advocate with master's degree in law with rich experience in Law and Banking. Working at the Bank since 2018 with 14 years of overall experience. Currently leading the Legal and Recovery Department.
  • Relationship with other directors: Not Applicable

Key Financial or Operational Approvals

The Board meeting held on June 23, 2026 approved all the above senior management personnel changes, elevations, and appointments. The meeting commenced at 10:00 AM and concluded at 5:45 PM.

Any Other Material Information

  • Regulatory compliance: Disclosure made pursuant to Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015
  • Additional compliance: Includes disclosure as required under SEBI Circular HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026
  • Company details: NSE Scrip Code: KARURVYSYA, BSE Scrip Code: 590003
  • Disclosure signed by: Srinivasarao Maddirala, Company Secretary & Compliance Officer on June 23, 2026 at 19:18:11