DCB Bank Limited has issued a Postal Ballot Notice seeking approval from its members for the appointment of Mr. Pushan Mahapatra as Non-Executive Part-Time Chairman and the associated remuneration. The notice, dated July 3, 2026, details that Mr. Mahapatra's appointment is effective from June 12, 2026, until March 9, 2029, as approved by the Reserve Bank of India (RBI) on June 12, 2026. Shareholders had previously approved his appointment as a Non-Executive (Independent) Director on May 7, 2026. The proposed remuneration includes a fixed amount of ₹24 lakh per annum, along with sitting fees for attending board and committee meetings. This remuneration is subject to RBI approval and any stipulated conditions. The bank is also seeking member approval for this remuneration as it exceeds fifty percent of the total annual remuneration payable to all Non-Executive Directors. Shareholders can cast their votes electronically through remote e-voting. The e-voting period commences on Wednesday, July 8, 2026, at 9:00 a.m. IST and concludes on Thursday, August 6, 2026, at 5:00 p.m. IST. The results of the postal ballot will be declared on or before Monday, August 10, 2026, along with the Scrutinizer's Report.
