Key Decisions and Approvals
1. Fundraising through Non-Convertible Debentures (NCDs):
- The Board approved raising up to ₹400 Crores through issuance of Non-Convertible Debentures in one or more tranches.
- Specific approval granted for issuance of up to ₹200 Crores in a single tranche.
- Instrument Details:
- Type: Rated, Listed, Unsecured, Subordinated, Transferable, Redeemable, Fully Paid Up, Lower Tier II Non-Convertible Debentures in a single series
- Classification: To be categorized as Lower Tier II Capital under Basel II framework
- Issuance Method: Private placement basis in dematerialized form
- Listing: Proposed to be listed on BSE Limited
- Tenure: Not exceeding 10 years from the deemed date of allotment
- Coupon/Interest: To be determined as approved by the Board of Directors
- Security: Unsecured (no charge/security over assets)
- Special Rights: No special rights/interest/privileges attached
2. Appointment of Interim Company Secretary and Compliance Officer:
- Ms. Geeta Krishnan (ICSI Membership No. A6011) appointed as Interim Company Secretary and Compliance Officer
- Designated as Key Managerial Personnel
- Effective Date: September 24, 2026
- Profile: 25+ years of experience in corporate governance, secretarial, legal, and regulatory compliances across listed and banking companies. Previously associated with Suryoday Small Finance Bank as Company Secretary from 2017 to 2022 and currently a Corporate Consultant.
Meeting Details
- Date: September 21, 2026
- Timing: Commenced at 04:00 PM and concluded at 05:00 PM
- Reference: Continuation of previous intimation (Ref.: SSFB/CS/49/2026-27 dated September 16, 2026)
Financial Impact
The NCD issuance of up to ₹400 Crores (with immediate tranche of ₹200 Crores) will strengthen the bank's capital base as Lower Tier II Capital. No specific financial impact quantification provided beyond the issuance amount.