Real Effective Exchange Rate of Rupee spikes in November
The Reserve Bank of India (RBI) in its report highlighted that the Real Effective Exchange Rate (REER) of the Indian Rupee increased to 108.14 in November 2024 from 107.20 in October 2024.
Federal Bank on Friday said it has received approval from the RBI to re-appoint Shyam Srinivasan as its MD and CEO for three years.
Srinivasan took charge as MD and CEO of the lender on September 23, 2010.
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“We wish to inform you that the approval from Reserve Bank of India has been received on July 9, 2021 for the re-appointment of Shyam Srinivasan as the MD & CEO of the bank for a period of three years with effect from September 23, 2021 till September 22, 2024,” Federal Bank said in a regulatory filing.
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Earlier in July 2020, the South-based lender had received RBI’s nod for reappointment of Srinivasan as Managing Director and Chief Executive Officer till September 22, 2021.
He had joined Federal Bank with the experience of over 20 years with leading multinational banks in India, Middle East and South East Asia. He has significant expertise in retail lending, wealth management and small and medium enterprises (SME) banking, it said.
Srinivasan is an alumnus of the Indian Institute of Management, Calcutta, and Regional Engineering College, Tiruchirapally.
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