Independent Director Ramanand Mundkur Retires on Completion of Five-Year Tenure

Mr. Ramanand Mundkur retires as an Independent Director of the Bank with effect from close of business hours on September 30, 2026.

Wed 30 Sep 2026

Director Name

Mr. Ramanand Mundkur

Retirement Date

September 30, 2026

Term Period

October 01, 2021 to September 30, 2026

Reason for Retirement

Completion of tenure

What happened

Federal Bank has informed the stock exchanges that Mr. Ramanand Mundkur will retire as an Independent Director of the Bank with effect from close of business hours on September 30, 2026.

• Reason stated: completion of tenure as an Independent Director.
• Term of appointment: October 01, 2021 to September 30, 2026.
• The Bank had already given an earlier intimation on this on July 17, 2026.

How to read it

Under Indian company law, an independent director serves for a fixed term. When that term ends, the director steps down unless re-appointed through a fresh approval process. Here the update describes the exit purely as completion of tenure — it is not a resignation, removal or exit linked to any disagreement with the Bank.

Because the Bank had flagged the upcoming retirement more than two months earlier, this is a planned and scheduled change rather than a sudden one.

What it means for investors

• Board composition changes slightly from October 2026.
• No financial impact, business decision or transaction is involved in this intimation.
• Investors typically watch for subsequent announcements on board appointments to see how the independent director strength is maintained.

Overall, this is a routine governance and disclosure item of the kind large banks file when a director's fixed term ends.

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