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| Exchange Received Time 12/03/2019 18:39:25 Exchange Disseminated Time 12/03/2019 18:39:29 Time Taken 00:00:04 | The existing term of Dr. Sanjiv Misra, Non-Executive (Part-time) Chairman of the Bank will expire with effect from the close of business hours on 17th July 2019.
Accordingly, pursuant to the authority vested by Article 90 of the Articles of Association of the Bank and pursuant to the recommendations of the Nomination & Remuneration Committee of Directors, the Board of Directors of the Bank at its meeting held today, approved the appointment of Shri Rakesh Makhija (DIN: 00117692), Independent Director as the Non-Executive (Part-time) Chairman of the Bank, for a period of 3 years, with effect from 18th July 2019 upto 17th July 2022 (both days inclusive) and the terms and conditions relating to the said appointment, including remuneration, in terms of Section 35B of the Banking Regulation Act, 1949, subject to the approval of the Reserve Bank of India and the Shareholders of the Bank.
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