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RBI rejects recommendation to appoint Vijaydurai as non-executive chairman of TMB

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RBI rejects recommendation to appoint Vijaydurai as non-executive chairman of TMB

New Delhi, Sep 20 (PTI) The Reserve Bank of India has rejected the recommendation of Tamilnad Mercantile Bank (TMB) to appoint B Vijaydurai as part-time non-executive chairman of the bank.

The bank had on August 20 sent a recommendation to the central bank to appoint Vijaydurai as part-time non-executive chairman.

The Reserve Bank issued a letter on September 19, 2022, rejecting the recommendation for the appointment of B Vijaydurai. However, the central bank has not given any reason for this. The Reserve Bank has asked TMB to send a fresh proposal for another independent director for the post of temporary part-time chairman.

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