Federal Bank AGM shareholders approved the reappointment of Managing Director and Chief Executive Officer Krishnan Venkat Subramanian, widely known as KVS Manian, along with other board and audit matters at the bank’s 95th Annual General Meeting on August 21, 2026, the lender said in a BSE filing.

Manian, who retired by rotation, was reappointed as a director liable to retire by rotation. He will continue as MD and CEO under the approvals already granted by the Reserve Bank of India and shareholders for three years with effect from September 23, 2024.

The bank said Manian is not related to any director or key managerial personnel. He has more than four decades of financial-services experience and assumed charge as Federal Bank’s MD and CEO in September 2024.

Independent director gets second term

Members also approved the reappointment of Sankarshan Basu as an independent director for a second consecutive three-year term. His new tenure will run from October 1, 2026, to September 30, 2029, inclusive, and he will not be liable to retire by rotation.

Basu has served as an independent director of the bank since October 1, 2021. He is a professor of quantitative finance and risk management at IIM Bangalore, with more than 19 years of involvement in teaching, research, consulting and academic administration across finance, banking, financial markets, clearing and settlement, and risk management.

Federal Bank confirmed that neither Manian nor Basu is debarred from holding a director’s office by any SEBI order or other authority.

Two firms appointed as joint statutory auditors

The shareholders approved the appointment of Price Waterhouse LLP, Kolkata, and K. S. Aiyar & Co., Mumbai, as joint statutory auditors for three years, from the conclusion of the 95th AGM until the conclusion of the 98th AGM. Their appointment remains subject to RBI approval every year.

  • Price Waterhouse LLP is an ICAI-registered chartered accountancy firm headquartered in Kolkata, with a presence across 16 Indian cities and 113 partners as of March 31, 2026. The filing said it had more than 20 years of experience as a statutory central auditor for banks as of that date.
  • K. S. Aiyar & Co. is an ICAI-registered partnership established in 1897 and headquartered in Mumbai. It has 21 partners and 15 years of experience as a statutory central auditor for banks, according to the filing.

The AGM began at 11 am and concluded at 11:56 am.

Source: BSE corporate announcement.