Karur Vysya Bank’s chief executive officer and Managing Director P R Sheshadri has resigned because of some personal reasons. The bank’s board of directors received his resignation in their conference carried on Saturday, January 4th.
He will be released from the services of the bank at the end of working hours on 31st March 2020 as per his plea.
Karur Vysya Bank stated in a BSE filing “We hereby inform that on 04th January 2020 MD & CEO, Shri P R Seshadri, has submitted his resignation letter due to his personal reasons. Board of Directors of the Bank in their conference held today has received the resignation of Shri P R Seshadri,”.
The shares of Karur Vysya Bank collapsed when the market started on January 6, 2020, after the Bank’s MD and CEO submitted his resignation.
At 12.50 pm, Karur Vysya Ltd is swapping at Rs 56.75, dropping by 5.02 percent or Rs 3.00 per share against its prior close of Rs 59.75. The high of its 52-week is Rs 95.00 and the low of 52-week is Rs 51.00.
Karur Vysya Bank, commonly known as KVB, is a 100-year old, private sector bank. Its headquartered is in Karur (Tamil Nadu, India). It fundamentally operates in depository, corporate, wholesale and retail banking sections and also presents personal, corporate and agricultural banking & services to MSME and NRIs.