NSEGeneral Updates5d ago · 15 Oct 2026, 02:05 pm
General Updates
Suryoday Small Finance Bank Limited · SURYODAY
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Suryoday Small Finance Bank Limited has received approval from the Reserve Bank of India for the remuneration payable to its Managing Director & CEO and Whole-time Director (Executive Director).
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Earnings Impact5/10
Growth Catalyst2/10
Governance Concern1/10
Regulatory Risk2/10
Balance Sheet Risk1/10
Liquidity Impact8/10
Market Sentiment6/10
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Update regarding receipt of approval from the Reserve Bank of India for the remuneration payable to the Managing Director & CEO and Whole-time Director (Executive Director) of the Bank.
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October 15, 2026
Ref.: SSFB/CS/63/2026-27
National Stock Exchange of India Limited BSE Limited
Listing Department The Corporate Relations Department
Exchange Plaza, C-1, Block G, Phiroze Jeejeebhoy Towers,
Bandra Kurla Complex, Dalal Street, Fort,
Bandra (East), Mumbai-400051 Mumbai-400 001
Symbol: SURYODAY Scrip Code: 543279, 960033, 978308
Dear Sir/Madam,
Sub: Intimation under Regulations 30 and other applicable provisions of the SEBI (Listing Obligations and
Disclosure Requirements) Regulations, 2015 - Approval of the Reserve Bank of India for the
Remuneration payable to (i) Managing Director & Chief Executive Officer and (ii) Whole-time
Director (Executive Director) of Suryoday Small Finance Bank Limited (the “Bank”)
Pursuant to Regulation 30 read with Schedule III and other applicable provisions of the Securities and
Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015 (“SEBI Listing
Regulations”) read with SEBI Circular No. SEBI/HO/CFD/CFD-PoD-1/P/CIR/2023/123 dated July 13,
2023, and SEBI Master Circular No. HO/49/14/14(7)2025-CFD-POD2/I/3762/2026 dated January 30, 2026,
as amended from time to time and other relevant circulars issued by SEBI in this regard, we hereby inform
that further to the approval granted by the Shareholders at the 18th Annual General Meeting (“AGM”) of the
Bank held on August 06, 2026, the Reserve Bank of India (“RBI”) vide its letter no.
CO.DOR.HGG.No.S5643/29-44-006/2026-2027 dated October 14, 2026, has accorded its approval in
accordance with section 35B of the Banking Regulation Act, 1949, for payment of Variable Pay for FY 2025-26
and Fixed Remuneration for FY 2026-27 to:
i) Mr. Baskar Babu Ramachandran, the Managing Director & Chief Executive Officer of the Bank; and
ii) Mr. Hemant Shah, the Whole-time Director (Executive Director) of the Bank.
This intimation will also be made available on the Bank's website at https://suryoday.bank.in/investor-
corner/#disclosure-to-stock-exchanges in terms of Regulations 46 and 62 and other applicable provisions of
the SEBI Listing Regulations.
The above is submitted for your kind information and appropriate dissemination.
Thanking you,
Yours truly,
For Suryoday Small Finance Bank Limited
Geeta Krishnan
Interim CS and Compliance Officer
SURYODAY SMALL FINANCE BANK LIMITED
Registered Office: 1101, Sharda Terraces, Plot. 65, Sector 11, CBD Belapur, Navi Mumbai – 400614, Maharashtra Tel: 022-41856700
Corporate Office: 7th Floor, Seawoods Grand Central, Tower No. 1, Plot No. R-1, Sector 40, Seawoods, Navi Mumbai – 400 706
E Mail: info@suryodaybank.com / Web: https://suryoday.bank.in/ CIN: L65923MH2008PLC261472 / GSTIN NO: 27AAMCS5499J1ZG