DCB Bank appoints Pushan Mahapatra as Independent Director

DCB Bank has appointed veteran banker Pushan Mahapatra as an Additional and Non-Executive Independent Director for a three-year term starting March 10, 2026. The board has also recommended him for the role of Non-Executive Part-Time Chairman, subject to approval from the Reserve Bank of India (RBI).

DCB Bank Limited has announced the appointment of senior banking professional Pushan Mahapatra as an Additional and Non-Executive Independent Director for a period of three years, effective March 10, 2026. The appointment was approved by the bank’s Board of Directors during a meeting held on March 9, 2026, based on the recommendation of the Nomination and Remuneration Committee.

The appointment is subject to shareholder approval within the timeline prescribed under regulatory guidelines. In addition to this role, the board has recommended Mahapatra’s candidature for the position of Non-Executive Part-Time Chairman of the bank. The proposal will require approval from the Reserve Bank of India (RBI), and the bank plans to submit the necessary application to the regulator.

Mahapatra brings more than four decades of experience in the banking and financial services sector. He spent 35 years with the State Bank of India (SBI) Group, where he held several senior leadership positions across multiple business functions.

During his career, Mahapatra also gained international exposure, serving for over four years as Vice President (Systems & Internal Audit) at SBI’s Hong Kong branch. He later served as Managing Director and Chief Executive Officer of SBI General Insurance Co. Ltd. for nearly five years, where he played a key role in expanding the company’s business and strengthening its position among private sector general insurers.

Currently, Mahapatra serves as a Non-Executive Director at Zurich Kotak General Insurance Co. (India) Ltd and as an Independent Director at Angel One Trustee Limited. His expertise spans retail banking, corporate banking, technology, compliance, audit, and governance.

DCB Bank stated that Mahapatra fulfills all regulatory requirements for the role of Independent Director. The bank confirmed that he is not debarred from holding directorship by any regulatory authority, including SEBI, and does not have any relationship with existing board members.

The appointment aligns with the provisions of the Companies Act, 2013 and the SEBI (Listing Obligations and Disclosure Requirements) Regulations. With Mahapatra’s addition to the board, the bank aims to further strengthen its leadership and governance framework.

Going forward, DCB Bank will seek shareholder approval for the directorship appointment and proceed with regulatory filings to obtain RBI approval for the chairman position.