City Union Bank has sought the approval of the Reserve Bank of India to appoint its independent director S. Mahalingam as its non-executive chairman. The bank’s decision comes as its current part-time non-executive chairman S. Balasubramanian is vacating the office upon his superannuation. Mahalingam is former CFO and ED of TCS. The bank has also co-opted M. Narayanan as additional director of the bank.
