RBI approved appointment of A P Hota as Federal Bank's Part-Time Chairman

New Delhi: The Reserve Bank of India gave approval to the appointment of Mr A P as the chairman of the Federal Bank Limited.

The Bank in its BSE filing states that RBI in its letter dated June 26, 2023, accorded its approval for the appointment of Mr A P Hota, Independent Director, as Part-Time Chairman of the Bank with effect from June 29, 2023, till January 14, 2026.

It is also mentioned that Mr. A P Hota is not related to any other Director or Key Managerial Personnel of the Bank.

Further, in line with the Stock Exchange Circular dated June 20, 2018, it is hereby confirmed that he is not debarred from holding the office of director by virtue of any SEBI order or any other such authority.

Brief profile of A P Hota 

Mr. A.P. Hota has banking experience of over 27 years in the Reserve Bank (mostly in technology and payment systems) from 1982 – 2009. While at the Reserve Bank of India, he served as Nominee Director to the Board of Vijaya Bank and subsequently Andhra Bank. He was the architect of NPCI and served as its Managing Director (MD) and Chief Executive Officer (CEO) between 2009- 2017. 

He completed his master’s degree in literature from Sambalpur University and is an Honorary Fellow of the Indian Institute of Banking and Finance.

Mr. A P Hota was appointed as Independent Director of The Federal Bank Limited w.e.f. January 15, 2018.