Transfers & Postings · BFSI
CSB Bank has issued a Postal Ballot Notice dated 23 October 2026 seeking shareholder approval on five resolutions, including a new board appointment and upward pay revisions for its top two executives.
✦ AI SUMMARY 30-second read
- Anish Thurthi proposed as Non-Executive Non-Independent Director, liable to retire by rotation
- Pralay Mondal's fixed pay to rise from ₹2.79 crore to ₹3.07 crore per annum from 1 April 2026
- B K Divakara's fixed pay to increase from ₹88 lakh to ₹97 lakh per annum from 1 April 2026
Why it matters: Shareholder ratification of senior pay and board composition at CSB Bank reflects the RBI-mandated approval process for private bank executive remuneration.
This summary was generated by AI. Editors may review and update it.
CSB Bank Limited, headquartered in Thrissur, has issued a Postal Ballot Notice dated 23 October 2026 inviting members to vote on five Ordinary Resolutions through remote e-voting.
The notice was sent to members whose names appear in the Register of Members or list of Beneficial Owners as on the cut-off date of 30 October 2026. Remote e-voting opens on Wednesday, 4 November 2026 at 09:00 a.m. IST and closes on Thursday, 3 December 2026 at 05:00 p.m. IST, with results to be declared on or before Saturday, 5 December 2026 at 05:00 p.m. IST.
The key resolutions
The most prominent governance proposal is the appointment of Anish Thurthi (DIN: 08713000) as a Director in the Non-Executive Non-Independent category, liable to retire by rotation.
On the remuneration side, members are being asked to approve a revision in the fixed pay of Managing Director and CEO Pralay Mondal — from ₹2.79 crore to ₹3.07 crore per annum — with effect from 1 April 2026. A separate resolution seeks approval for variable pay to Mondal for FY 2026-27, subject to RBI approval.
Similarly, the fixed pay of Whole-time Director B K Divakara is proposed to be revised upward from ₹88 lakh to ₹97 lakh per annum with effect from 1 April 2026, with a parallel resolution covering his variable pay for FY 2026-27, also subject to RBI approval.
E-voting process
The e-voting facility is being provided by NSDL. P D Vincent, a Practicing Company Secretary, has been appointed as the Scrutinizer to oversee the process.
The Postal Ballot Notice is available on CSB Bank's website as well as on the websites of the relevant stock exchanges.
About the key officers
Pralay Mondal
| New post | Managing Director & CEO, CSB Bank |
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Anish Thurthi
| New post | Director (Non-Executive Non-Independent category), CSB Bank |
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