RBI Greenlights S Ravindran as Part-Time Chairman of TMB

The Reserve Bank of India (RBI) has given the nod to S Ravindran to serve as the part-time chairman of the Tamilnad Mercantile Bank (TMB), as confirmed in a regulatory filing on Friday. Ravindran’s appointment, effective from February 29, 2024, extends until August 2, 2026.

Before taking on his new role, Ravindran must resign from his director positions at Shriram Finance Limited and Bandhan AMC Limited, as stipulated by the approval conditions. At 61 years old, Ravindran boasts a substantial 29-year tenure at the Securities and Exchange Board of India (Sebi), where he held the position of executive director from August 2011 to May 2022.

During his tenure as an advisor to the Central Bank of Bahrain from January 2005 to January 2010, Ravindran played a pivotal role in formulating and executing Bahrain’s Securities Market/Regulatory Framework, leveraging his expertise garnered from his time at Sebi.

Presently, Ravindran serves as an independent director on the boards of the National Stock Exchange of India Limited (NSE), LTIDPL Invit Services Limited, Shriram Finance, and Bandhan AMC.

With his extensive experience in regulatory matters and financial expertise, Ravindran’s appointment is anticipated to bring valuable insights to TMB’s leadership, potentially steering the bank towards greater success and stability in the coming years.