Federal Bank shareholders have approved the motion to re-appoint Shyam Srinivasan as the Managing Director and Chief Executive Officer of the lender for a period of three years. His reappointment will come into effect from September 23, 2021 to September 22, 2024. During the 19th annual general meeting of Federal Bank today, Srinivasan said, "Simple, digital, contactless this is what I had defined last year to be the cornerstones of our strategic focus for FY 2020-21, and a stepping stone in our journey to become the bank of the first choice for Indians." The digital innovations of the bank today are on the cusp of redefining the banking paradigm of tomorrow, he added. "The bank led by its twin focus on digital enablement and people empowerment, supported by operational strength, navigated the unprecedented challenges during the year to deliver exceptional numbers," said Federal Bank chairperson Grace Elizabeth Koshie at the AGM.

Source: Mint July 09, 2021 14:39 UTC