South Indian Bank Gets New MD & CEO, Mahesh Muralidhar Pai Takes Charge For Three Years

Mumbai: South Indian Bank has chosen Mahesh Muralidhar Pai as its new Managing Director and Chief Executive Officer, effective October 1, 2026. This appointment has been endorsed by both the Reserve Bank of India and the bank's shareholders during their 98th Annual General Meeting on August 20, 2026. Current Managing Director and CEO, P R Seshadri, will conclude his tenure on September 30, 2026, after fulfilling his designated period.

Pai will assume the roles of Whole-time Key Managerial Personnel, Material Risk Taker, and Principal Officer at South Indian Bank. With more than three decades of experience in banking, spanning strategy, treasury, foreign exchange, retail banking, agriculture, and MSME credit, the 50-year-old candidate brings a wealth of knowledge to the position.

Prior to joining South Indian Bank, Pai served as Chief General Manager at Canara Bank, where he oversaw digital banking and innovation initiatives. He also spearheaded significant projects, including the launch of Canara Bank’s gold loan division.

Pai's professional journey includes roles within Canara Bank’s international operations in New York, where he served as a director. Additionally, he has held executive positions in various banking and financial institutions. Although Pai will officially join South Indian Bank as an Officer on Special Duty from September 16 to September 30, 2026, he clarifies that he has no familial ties to the bank's directors and does not fall under any disqualification for the role.