Banking Daily News: 19th AUG 2023

Seshadri Named South Indian Bank CEO

P. R. Seshadri has been appointed as the Managing Director and CEO of South Indian Bank, effective from October 1. With a three-year tenure approved by the Reserve Bank of India, Seshadri brings a wealth of experience from previous significant roles at The Karur Vysya Bank Limited and Citibank N.A., Asia Pacific.

Key Facts:

• P. R. Seshadri named MD & CEO of South Indian Bank.
• RBI approves a three-year tenure starting October 1.
• Former roles include MD & CEO of The Karur Vysya Bank.
• Served as MD & Regional Head at Citibank, Asia Pacific.
• Shareholder approval pending as per regulatory norms.

KVG Bank Debuts WhatsApp Banking

Karnataka Vikas Grameena Bank (KVGB) rolls out a new WhatsApp banking service, enabling customers to access varied banking features through the popular messaging app. This 24/7 service, available on both Android and iOS, is activated by messaging the official KVGB number.

Key Points:

• KVGB introduces banking via WhatsApp.
• Targets tech-driven financial inclusion in remote areas.
• Services: balance inquiry, transactions history, and product information.
• Activation: Text 'hi' to 9278700859 on WhatsApp.
• Compatible with both Android and iOS devices.

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