In an exchange filing, the bank said that the Reserve Bank of India (RBI) has approved the re-appointment of Baskar Babu Ramachandran as the managing director and chief executive officer (MD & CEO) of the bank for a further period of three years, with effect from 23 January 2023.

Suryoday Small Finance Bank (Suryoday SFB) is a scheduled commercial bank. The bank has a wide presence across 13 states and UTs across India through its 565 banking outlets, with a strong presence in Maharashtra, Tamil Nadu and Odisha.

The bank reported a net profit of Rs 13 crore in Q2 FY23 as against a net loss of Rs 1.92 crore in Q2 FY22. Total income rose 14.1% year on year to Rs 305.70 crore in Q2 FY23