TamilNad Mercantile Bank has announced the appointment of Shri Vincent Menachery Devassy as the Whole Time Director (Executive Director) for a period of three years. The Reserve Bank of India (RBI) approved this appointment on September 19, 2024, under Section 35B of the Banking Regulation Act, 1949. Shri Devassy’s appointment is subject to shareholder approval.
A veteran banker, Shri Vincent Menachery Devassy brings over 39 years of experience in commercial banking. His career, which began with the State Bank of India in 1984, spans a wide range of roles, including Chief General Manager for the North East Circle and General Manager for both Amaravati and Bangalore Circles. He has also held key positions in Wealth Management, Banking Technology, and International Banking.
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Shri Devassy holds a Bachelor’s degree in Commerce and Law, a Diploma in Management, and is a Certified Associate of the Indian Institute of Bankers.
TamilNad Mercantile Bank has confirmed that Shri Devassy is not related to any existing Directors or Key Managerial Personnel, and he is not debarred from holding a directorial position by any regulatory authority.
