Private sector lender Federal Bank has appointed Rajesh Varrier, Executive Vice President at Cognizant , as an Additional Director in the capacity of a Non-Executive Independent Director on its board for a three-year term beginning October 16, 2026.
The appointment was approved by the bank’s Board of Directors at its meeting held on October 16, 2026, following the recommendations of the Nomination, Remuneration, Ethics and Compensation Committee. The appointment has been made in accordance with the Banking Regulation Act, 1949 and the Reserve Bank of India (Commercial Banks – Governance) Directions, 2025. In a regulatory filing, Federal Bank said Varrier (DIN: 00105765) will serve as an Additional Director (Non-Executive Independent Director) for a period of three consecutive years with effect from October 16, 2026. As required under Regulation 17(1C) of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, the bank will seek shareholder approval for the appointment at the next general meeting or within three months from the date of appointment, whichever is earlier. The bank also noted that, under Section 149(13) of the Companies Act, 2013, Varrier will not be liable to retire by rotation during his tenure as an independent director. The board meeting commenced at 10:46 a.m. on October 16, 2026, and approved Varrier’s appointment before being adjourned, the bank said.
It further confirmed that he is not debarred from holding the office of director by virtue of any order issued by the Securities and Exchange Board of India (SEBI) or any other authority.
Federal Bank said Varrier is not related to any of the bank’s directors or key managerial personnel. You use AI every day. Now get your AI Quotient. Take the AIQ test.