Indbank Merchant Banking Services Limited announced that Shri Satish Kumar Kalra, (DIN:01952165), was recommended to Board to appoint as an Additional Director of the Company by the Nomination and Remuneration Committee vide resolution passed by Circulation, passed on November 23, 2021 and the Board of the company vide resolution passed by Circulation, passed on November 25, 2021 appointed him as an Additional Director with effect from November 30, 2021, who shall hold office until the conclusion of the ensuing Annual General Meeting and also appointed him as a member of the Audit Committee and Nomination and Remuneration Committee of the Board of Directors of the company. Shri Satish Kumar Kalra has been a member on Advisory Board for Banking and Financial Frauds from March, 2020 to August, 2021. He has served as the Managing Director & CEO of (Additional Charge):in Andhra Bank for 6 months (he was the Whole Time Director/Executive Director in Andhra Bank from Oct 2012 to Aug-2017). He was General Manager (Treasury) in Allahabad Bank. He was a Director on Board on India First Life Insurance Company Limited.