The RBI has approved the candidature of Mr P R Seshadri (ex MD & CEO of Karur Vysya Bank) as MD & CEO of South Indian Bank (SIB) for three years with effect from 1st Oct’23. In our view, Mr Seshadri was instrumental in putting new-age lending practices, overhauling risk architecture and transforming HR practices at Karur Vysya Bank (KVB) during his term (Sep’17-Mar’20), a time when the banking system was undergoing severe profitability pressure due to corporate asset quality cycle.