Standard Chartered Bank. Additionally, he has over 18 years of experience as a consultant in banking services for several
international institutions, including in Indonesia, Thailand and Mauritius by way of his previous association with Quest
OntheFRONTIER Pte. Limited, iCube Consortium Pte Limited and Bain & Company SE Asia Inc., as consultant and his
assistance to our Bank and Equitas Finance Private Limited (now known as, Equitas Small Finance Bank Limited), two
microfinance companies in their transitions to small finance banks. Further, he has also been on the boards of companies
in the venture capital, horticulture and agriculture sectors, an automated teller machine manufacturer and in two
companies in the primary and secondary healthcare sector which he had promoted.

Venkatesh Natarajan is an Investor Director of our Bank. He holds a bachelor’s degree in electronics and
instrumentation engineering from Annamalai University, a master’s degree in engineering from Arizona State University
and a master’s degree in business administration from Cornell University. He has several years of experience in venture
capital and private equity in India and has been involved as an early investor in the microfinance sector in India. He has
also worked with companies in healthcare, agriculture and financial inclusion sectors. He also co-founded and is currently
the partner at Lok Advisory Services Private Limited.

Ranjit Shah is an Investor Director of our Bank. He holds a bachelor’s degree in electrical engineering from Indian
Institute of Technology, Bombay and a master’s degree in business administration from the University of Michigan. He
has several years of experience in sectors including private equity and financial services. Previously, he has been investor
and entrepreneur. He also co-founded and is currently a managing partner at Gaja Advisors Private Limited, which goes
by the trade name Gaja Capital.

Aleem Remtula is an Investor Director of our Bank. He holds a bachelor’s degree in economics titled ‘baccalaurei cum
laude in oeconomia’ from Princeton University and a master’s degree in business administration from Harvard Business
School. He has several years of experience in venture capital and private-equity funds globally. Having started his career
with JP Morgan Chase & Co, he is currently associated with DWM Asset Management LLC as a partner of the firm’s
private equity business line.

Baskar Babu Ramachandran is the Managing Director and Chief Executive Officer of our Bank. He holds a bachelor’s
degree in mechanical engineering from the University of Madras and a master’s degree in business administration from
the Pondicherry University. He has participated in the management development programme for strategic management
for corporate leadership conducted by Indian Institute of Management, Calcutta. He has several years of experience in
the banking and finance sector. Prior to co-founding Suryoday Micro Finance Private Limited, he was associated with
various companies including GE Capital Transportation Financial Services Limited as the vice-president- quality and
operations and HDFC Bank Limited as assistant vice president.

Terms of appointment of our Managing Director and Chief Executive Officer

Baskar Babu Ramachandran was appointed as the Managing Director and Chief Executive Officer pursuant to the
resolution passed by our Board on January 23, 2017 and the resolution passed by our Shareholders on August 31, 2017.
He was further reappointed for a term of three years with effect from January 23, 2020, pursuant to the resolution passed
by our Board on November 7, 2019 and the resolution passed by our Shareholders on July 27, 2020. The total
remuneration paid to Baskar Babu Ramachandran in Fiscal 2020 was = 15.50 million. The details of remuneration
pursuant to RBI letters dated December 4, 2019 and January 14, 2020 and an agreement dated July 30, 2020 entered into
between our Bank and Baskar Babu Ramachandran are stated below:

 

 

 

 

 

 

s. Particulars Remuneration
No.
1, Basic Salary % 5.20 million per annum
2. House Rent Allowance % 2.08 million per annum
3. Group Allowance %5.72 million per annum
Gross Salary % 13.00 million per annum
4 Perquisites 1, Usage of car: No cost for official purpose, and for private purpose, fuel cost of a

maximum of 200 litres per month (maximum @ 0.24 million per annum). Alll fuel
costs in excess of the limit prescribed above shall be borne by Baskar Babu
Ramachandran, Further, the car repairs and insurance to be considered at actuals and
driver’s salary of up to 2 0.30 million per annum to be borne by our Bank.
2. Provident Fund/Gratuity/Pension: % 0.62 million per annum towards provident fund
and gratuity is payable at 15 days’ basic salary for every year of service.
3. Medical Benefits: Mediclaim insurance coverage as per the policy of our Bank for
all its employees (currently, not exceeding & 15,000 per annum).
4. Other Benefits:
a. Club fee: Baskar Babu Ramachandran is eligible for one club membership for
himself and his family and such fee is to be considered at actuals and club
expenses shall be reimbursed up to % 0.15 million per annum; and

 

 

 

 

 

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