CHENNAI: The ambiguity over the
successor
of Tamilnad Mercantile Bank (
TMB
) MD and
CEO
S Krishnan continues as a proposal sent by the bank suggesting three nominees for the position has been rejected by
RBI
.
RBI said that the candidates proposed by the bank were not found suitable, TMB informed the stock exchange. It said that the communication from RBI on April 12, 2024 stated that the bank must submit a fresh panel of candidates with suitable experience in accordance with an RBI circular dated March 31, 2020.
In a related development, RBI regional director, Thiruvananthapuram, Thomas Mathew, has been appointed as the additional director of TMB for two years till April 11, 2026 or until further orders, whichever is earlier, in place of S B Suresh Kumar, general manager (retired), RBI. He is not debarred from holding the office of director by virtue of any Sebi order or any other such authority, the bank said in a separate filing.