The Board of The Federal Bank Limited at its meeting dated September 22, 2021 approved the appointment of Mr. Sankarshan Basu and Mr. Ramanand Mundkur as Additional Non-Executive Independent Directors for a period of five years with effect from October 01, 2021. Mr. Sankarshan Basu is a professor of quantitative finance and risk management at IIM Bangalore. He has been involved in teaching, research, consulting and academic administration for more than 19 years covering areas in finance, financial markets, financial products, banking, clearing and settlement, risk management etc. Mr. Ramanand Mundkur joined International Monetary Fund in Washington DC in 2002 and worked till 2007 before setting up Mundkur Law Partners firm in 2007. Mr. Mundkur specializes in providing legal and business advice for mergers and acquisitions, venture capital and private equity investment, securities regulation and insolvency resolution & winding up of companies.