The Board of Directors of Suryoday Small Finance Bank Limited at their meeting held on September 21, 2023 announced that Mr. Ramachandran Rajaraman, the Non-Executive Independent Director and Part-time Chairman of the Bank, who was re-appointed with the approval from the Reserve Bank of India ("RBI") for a period upto September 23, 2023, retired from the position of the Independent Director and Part-time Chairman of the Bank, effective from September 24, 2023, on completion of his second term of Office as an Independent Director of the Bank.