Mumbai: Mr Sankarshan Basu and Mr Ramanand Mundkur, two seasoned professionals in banking and finance, have joined the Board of the Federal Bank as its additional non-executive independent directors.

Mr Sankarshan Basu is a professor of quantitative finance and risk management at IIM Bangalore. He has been involved in teaching, research, consulting, and academic administration for more than 19 years, covering areas such as finance, financial markets, financial products, banking, clearing and settlement, risk management, etc. Mr Sankarshan Basu has a specialisation in statistics and has been a board member of The Clearing Corporation of India Limited, Bilcare Limited, BgSE Properties and Securities Limited and Bangalore Stock Exchange Limited.

Mr Ramanand Mundkur is a graduate of the National Law School of India University and has over twenty years of international work experience. He worked as a tax and legal practitioner with the global consulting firm Arthur Andersen until December 1997. Thereafter, he joined the United Nations Compensation Commission in Geneva as a lawyer and assisted the UN Commission in assessing compensation to banks, companies, and businesses that suffered losses due to the first Gulf War and worked with the UN Commission until May 2001.

Later, he joined the International Monetary Fund in Washington, DC in 2002 and worked till 2007 before setting up the Mundkur Law Partners firm in 2007. Mr Mundkur specialises in providing legal and business advice for mergers and acquisitions, venture capital and private equity investment, securities regulation and insolvency resolution & winding up of companies.