The Reserve Bank of India (RBI) has given its approval for the appointment of S Ravindran as the part-time chairman of Tamilnad Mercantile Bank (TMB), effective February 29, 2024. The approval is conditional on Ravindran stepping down from his directorships in Shriram Finance and Bandhan AMC before assuming the role. Ravindran, a chartered accountant and cost accountant, brings extensive experience, including 29 years at the Securities and Exchange Board of India (SEBI), where he served as the executive director. He played a key role in various departments, contributing to the development of securities markets.