Chennai: Indian Overseas Bank (IOB) has announced the nomination of Mr. Thomas Mathew, former Principal Chief General Manager of the Reserve Bank of India (RBI), as the new RBI Nominee Director on its Board.
He replaces Ms. Sonali Sengupta, with the appointment taking effect immediately from March 3, 2026.
Appointment Under Central Government Notification
The nomination has been made by the Central Government under the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970 and the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970.
IOB formally informed stock exchanges about the board change in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015.
The bank submitted the disclosure to:
- BSE (Scrip Code: 532388)
- NSE (Scrip Code: IOB)
The filing confirmed that there are no inter-se relationships between Mr. Thomas Mathew and other board members or the bank’s management.
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Thomas Mathew Brings Strong Regulatory Experience
Mr. Thomas Mathew is a seasoned banking professional who previously served as Principal Chief General Manager at RBI. During his tenure, he played a key role in:
- Banking regulation and supervision
- Corporate governance oversight
- Risk management frameworks
- Financial policy implementation
His experience in regulatory compliance and strategic oversight is expected to strengthen governance standards at IOB.
The bank stated that a detailed profile of Mr. Mathew will be submitted separately in due course.
Cessation of Sonali Sengupta’s Tenure
With this appointment, Ms. Sonali Sengupta ceases to serve as RBI Nominee Director on the Board of IOB. The bank confirmed that all legal and regulatory procedures have been duly followed for the transition.
Strengthening Governance and Oversight at IOB
The appointment of a senior former RBI official is seen as a strategic move aimed at enhancing:
- Corporate governance standards
- Regulatory compliance
- Risk management practices
- Board-level oversight
This change aligns with IOB’s commitment to maintaining strong public sector banking standards and regulatory discipline.
About Indian Overseas Bank (IOB)
Founded in 1937 and headquartered in Chennai, Indian Overseas Bank is a leading public sector bank in India offering retail, corporate, MSME, and international banking services. With a wide domestic and overseas presence, IOB plays a key role in supporting India’s financial inclusion and economic development initiatives.
About Reserve Bank of India (RBI)
The Reserve Bank of India (RBI) is India’s central banking institution, established in 1935. It regulates the country’s banking and financial system, manages monetary policy, issues currency, supervises banks and financial institutions, and ensures financial stability.
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