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Banking on Experience: IDBI Bank Reappoints T.N. Manoharan as Part-Time Chairman

Updated: May 08, 2025 12:43

Image Source: hrnxt.com
IDBI Bank Ltd has formally reappointed T.N. Manoharan as its part-time Chairman, adding a very seasoned banking and finance professional to its leadership. This reappointment is viewed as a strategic move to capitalize on Manoharan's rich experience at a critical time for the bank's continued transformation and governance.
 
Reappointment Details
  • T.N. Manoharan reappointed as IDBI Bank's part-time Chairman with effect from May 9, 2022, for a three-year period, subject to approval by the Reserve Bank of India.
  • The appointment was confirmed by an official board resolution and regulatory filings.
Professional Background
  • Manoharan is a veteran Chartered Accountant with more than 38 years of experience in banking, finance, and corporate governance.
  • He is former Non-Executive Chairman of Canara Bank (2015–2020) and RBI appointed him Administrator of Lakshmi Vilas Bank to pave its way towards being merged with DBS Bank India.
  • He is a distinguished veteran of advisory to RBI and Central Vigilance Commission and recipient of the Padma Shri award.
Updates in Board and Shareholding
  • In association with Manoharan's renewal of his position, LIC designated Raj Kumar, the Managing Director at LIC, as its nominee director on the IDBI Bank board.
  • LIC continues to be a substantial shareholder with 49.24% holding in the bank till March 2022.
Strategic Importance
  • The reappointment will help shore up IDBI Bank's governance and facilitate its current initiatives in banking reforms and compliance.
  • Manoharan's crisis management credentials and regulatory background are viewed as a valuable resource for the future trajectory of the bank.
Sources:  TradingView News, Business Standard, HRNXT, India Infoline

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