Federal Bank said in a BSE filing dated September 28, 2026, that the Reserve Bank of India has approved the appointment of Virat Sunil Diwanji as Executive Director for three years from the date he assumes charge. Diwanji will take charge as Additional Executive Director on October 12, 2026, subject to shareholder approval.

The RBI conveyed its approval through a letter dated September 28, 2026, following the recommendation of the bank's board. The appointment covers an executive director position on the board and designation as Key Managerial Personnel (KMP).

The bank disclosed the development to BSE and the National Stock Exchange under Regulation 30 of the SEBI Listing Obligations and Disclosure Requirements Regulations, 2015. Federal Bank trades under BSE scrip code 500469 and NSE symbol FEDERALBNK.

Appointment terms and shareholder approval

The filing sets out the following terms for Diwanji's appointment:

  • The RBI-approved tenure is three years from assuming charge.
  • He will assume office on the terms and conditions, including remuneration, approved by the RBI.
  • The bank must obtain shareholder approval within three months of his assuming charge.

The filing does not specify a remuneration amount. Federal Bank also confirmed that Diwanji is neither debarred nor disqualified from holding a director's office by any order of SEBI or any other such authority. He is not related to any of the bank's directors.

Consumer banking head with Kotak experience

Diwanji is currently National Head – Consumer Banking at Federal Bank, which he joined on April 10, 2025. His responsibilities encompass Branch Banking, Retail Liabilities, Retail Assets, Wealth Management and Business Banking.

His remit also includes the Digital Centre of Excellence, Customer Experience, Service Quality, Recovery and Collections, according to the profile accompanying the exchange filing.

Before joining Federal Bank, Diwanji spent more than 30 years with Kotak Mahindra Group. He held several senior leadership positions there, including Group President and Head – Consumer Bank.

He also currently serves as a Non-Executive Director of Ageas Federal Life Insurance Company Limited.

Source: BSE corporate announcement.