CURRENT AFFAIRS

Detailed explanation-1: -Karur Vysya Bank (KVB) has appointed PR Seshadri as managing director (MD) and chief executive officer (CEO) of the Bank for three years.

Detailed explanation-2: -The Government appoints Managing Directors from Whole-time Directors (WTD) of a public sector banks after vigilance clearance, etc. Name of these WTDs are recommended by the Financial Services Institutions Bureau (FSIB).

Detailed explanation-3: -Sectorial Representation on the Board: Banking, Credit, Finance, Accountancy, Marketing, Payments & Settlements System, Information Technology and Treasury Operations (“Majority Sector”) Date of Appointment: June 14, 2022. Mr. Murali Ramaswami is a seasoned banker having wide experience for more than 30 years.

Detailed explanation-4: -Karur Vysya Bank was started in the year 1916 in Karur, then a small textile town with a vast agricultural background, by two illustrious sons of the soil – Sri M.A. Venkatarama Chettiar and Sri Athi Krishna Chettiar.

Detailed explanation-5: -Vysya bank, the name of the original entity is from Karnataka. Vysya means business and it is the business community people vysyas who are behind both the ventures. Vysyabank, later was merged with ING group sometime in 2002.