South Indian Bank has announced that the Reserve Bank of India (RBI) has approved the appointment of Mahesh Muralidhar Pai as the bank's Managing Director and Chief Executive Officer (MD & CEO) for a three-year term, effective October 1, 2026.

The Kerala-based private sector lender said the appointment will be placed before its Board of Directors at the meeting scheduled for July 16, 2026, following which it will seek shareholders' approval.

According to the bank's regulatory filing, the RBI conveyed its approval through a letter dated July 7, 2026, clearing Pai's appointment for a three-year tenure beginning October 1, 2026.