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Shareholder of South Indian Bank Approved Raising 500cr

At the 89th Annual General Meeting of shareholders, the bank placed resolution “to approve the borrowing/raising funds in Indian/foreign currency by issue of debt securities up to Rs 500 crore on private placement basis.”

In a regulatory filing, the bank said, “All the resolutions were passed with requisite majority.”

The shareholders also approved re-appointment of VG Mathew as Managing Director and CEO with effect from October 1, 2017 for a period of three years.

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