The Reserve Bank of India (RBI) has approved the appointment of Mahesh Muralidhar Pai as the Managing Director & Chief Executive Officer of South Indian Bank for a period of three years, effective October 1, 2026.
Pai, 50, brings nearly three decades of banking experience spanning governance, strategy, treasury, foreign exchange, retail banking, agriculture finance and MSME lending.
Canara Bank executive to lead South Indian Bank
Currently serving as Chief General Manager at Canara Bank, Pai heads the lender’s digital banking and innovation initiatives. During his tenure, he has led several strategic transformation programmes, including the establishment of the bank’s gold loan vertical.
He has also headed one of Canara Bank’s largest operational zones, overseeing business growth and execution across multiple banking segments.
Extensive domestic and international experience
Pai has gained international banking exposure through his assignment at Canara Bank’s New York branch, where he was involved in the bank’s overseas operations.
His experience also includes serving as Director on the board of Canara Bank Tanzania Ltd. He has represented Canara Bank in key industry bodies, including the Fixed Income Money Market and Derivatives Association of India (FIMMDA), Swift India Domestic Services Private Ltd and the Secondary Loan Market Association.
Strong governance background
In addition to his executive responsibilities at Canara Bank, Pai currently serves as Director on the boards of Karnataka State Financial Corporation and Canara Bank Securities Ltd.
His appointment comes at a time when South Indian Bank continues to strengthen its focus on digital transformation, retail banking, asset quality and sustainable growth.
With RBI’s approval now in place, Pai will assume charge as Managing Director & CEO on October 1, 2026, for a three-year term.