Who is S Krishnan, resigned from post as MD of bank which mistakenly sent Rs 9000 crore to a cab drivers account

S Krishnan, the Managing Director and CEO of Tamilnad Mercantile Bank, made headlines with his resignation from the bank. This development occurred amidst the backdrop of the bank mistakenly transferring Rs 9000 crore to a cab driver's account. Krishnan cited personal reasons for his resignation, despite having a significant portion of his tenure ahead.

Tamilnad Mercantile Bank promptly informed the market regulator of Krishnan's resignation, and the bank's Board of Directors accepted it during a meeting on September 28. The Reserve Bank has also been notified of this change. Krishnan had assumed the role in September 2022 and will continue to serve until further directives are received from the Reserve Bank.

Krishnan's leadership journey is notable. Before joining Tamilnad Mercantile Bank, he served as the MD & CEO of Punjab & Sind Bank from September 4, 2020, to May 31, 2022. During his tenure, the bank underwent a transformation in various aspects, including digitalization, risk management, business development, and HR, resulting in the bank achieving its highest-ever profit in 2021-22.

Prior to this, Krishnan was the Executive Director of Canara Bank from April 1, 2020, to September 3, 2020, after which he joined Punjab & Sind Bank. His banking career commenced in January 1983 at Indian Bank, where he held various key roles and gained expertise in critical areas like risk management and information systems security. He was also the Executive Secretary to the Board of Indian Bank and is a Certified Associate of the Indian Institute of Bankers (CAIIB).

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