Tamilnad Mercantile Bank (TMB) has announced the resignation of S Krishnan (Sankarasubramaniam Krishnan) from the position of MD & CEO of the bank. This development comes just a week after the Thoothukudi-based bank made headlines for erroneously crediting ₹9,000 crore to a taxi driver’s account.
Krishnan assumed the role of MD & CEO on September 4, 2022. The bank released a statement saying, “We would like to inform that S Krishnan, MD & CEO of the bank, on September 28, tendered his resignation citing personal reasons. The Board, in the meeting held on Thursday, has accepted his resignation and forwarded the same to RBI. Krishnan shall continue to be the MD & CEO till the guidance/advice is received from the RBI, which shall be intimated in due course of time.”
Krishnan’s resignation letter stated, “Although I still have about 2/3rd of the term to go, due to personal reasons, I have decided to resign as Managing Director & CEO of the bank. However, in as much as the bank has only one whole time Director, I will seek the guidance of RBI in this regard.”
Before joining TMB, Krishnan held the position of MD & CEO at Punjab and Sind Bank from September 2020 to May 2022. He also served as the Executive Director of Canara Bank from April 2020 to September 2020 and as Executive Director of Syndicate Bank from November 2017 to March 2020.
Tamilnad Mercantile Bank recently made headlines for an erroneous financial transaction, where ₹9,000 crore was mistakenly deposited into a car driver’s bank account in Chennai. The bank explained that the error occurred due to issues with the NACH (National Automated Clearing House) credit file received from NPCI (National Payments Corporation of India), which contained invalid account numbers. This led to the incorrect amount being credited, but the bank promptly reversed the entries upon discovery of the mistake.
Have you read?
Report: These Are The Most Eaten Foods in the World, 2023.
Most expensive cars in the world, 2023.
These Are the Richest Cities in the World, 2023.
Richest Professional Football Clubs In The World, 2023.
25 of the world’s oldest billionaires in 2023, ranked.
Add CEOWORLD magazine to your Google News feed.
Follow CEOWORLD magazine headlines on: Google News, LinkedIn, Twitter, and Facebook.
Copyright 2024 The CEOWORLD magazine. All rights reserved. This material (and any extract from it) must not be copied, redistributed or placed on any website, without CEOWORLD magazine' prior written consent. For media queries, please contact: info@ceoworld.biz
