Date: October 15, 2026
KMP / Board / Auditor Changes
The Reserve Bank of India (RBI) has approved the remuneration for two Key Managerial Personnel (KMPs):
- Mr. Baskar Babu Ramachandran, Managing Director & Chief Executive Officer: Approved for Variable Pay for FY 2025-26 and Fixed Remuneration for FY 2026-27.
- Mr. Hemant Shah, Whole-time Director (Executive Director): Approved for Variable Pay for FY 2025-26 and Fixed Remuneration for FY 2026-27.
The approval was granted by the RBI vide its letter no. CO.DOR.HGG.No.S5643/29-44-006/2026-2027 dated October 14, 2026, in accordance with section 35B of the Banking Regulation Act, 1949. This approval follows the prior consent granted by the shareholders at the 18th Annual General Meeting (AGM) of the Bank held on August 06, 2026.
Regulatory & Compliance Disclosure
The intimation is made pursuant to Regulation 30 read with Schedule III of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. It also references SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13, 2023, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026. The disclosure will be made available on the Bank's website at https://suryoday.bank.in/investor-corner/#disclosure-to-stock-exchanges in terms of Regulations 46 and 62 of the SEBI Listing Regulations.
The letter was signed by Geeta Krishnan, Interim CS and Compliance Officer.