The Reserve Bank of India has approved the re-appointment of Baskar Babu Ramachandran as the MD & CEO of Suryoday Small Finance Bank for three years effective January 23, 2023.

• The Bank, on Tuesday, initimated the stock exchanges regarding the  developments.
• Babu, the founder and MD & CEO of Suryoday SFB, sold bank’s 50 lakh shares on December 16 for ?55.44 crore to close a loan for exercising warrants to maintain the promoter’s stake at the minimum of 26 per cent for the first 5 years (up to January 22, 2022) as per RBI regulations.