Shares of private lender South Indian Bank tumbled nearly 10 per cent on Wednesday after the lender announced that it had received the Reserve Bank of India’s (RBI) approval for the appointment of Mahesh Muralidhar Pai as its Managing Director and Chief Executive Officer (MD & CEO).

The private banking stock declined as much as 9.86 per cent to Rs 43.02 on the BSE. At around 12:05 pm, it was trading at Rs 44.23, down more than 7 per cent.

In a regulatory filing, the private sector lender said the RBI has approved the appointment of Pai as MD and CEO for a period of three years with effect from October 1.

The bank said the proposal for Pai’s appointment will be placed before its Board of Directors at the meeting scheduled for July 16.

In addition, the appointment will require shareholders’ approval in accordance with the Companies Act, 2013, and the SEBI (Listing Obligations and Disclosure Requirements) Regulations.

Pai (50) is currently serving as Chief General Manager at Canara Bank, where he heads digital banking and innovation, according to the exchange filing.

With nearly three decades of banking experience, he has worked across governance, strategy, treasury, foreign exchange, retail banking, agriculture and MSME credit. He has also led several strategic initiatives at Canara Bank, including the establishment of its gold loan vertical, and has previously headed one of the bank’s largest zones.

Moreover, he serves as a Director on the boards of Karnataka State Financial Corporation and Canara Bank Securities Ltd, the filing added.

According to BSE data, the stock has touched a 52-week high of Rs 49.90 and a 52-week low of Rs 28.13.

Guwahati, July 7: Assam Chief Minister Himanta Biswa Sarma on Tuesday said that the accused in the recent road rage incident in Guwahati has been arrested and clarified that the individual has no association with the BJP.

The Chief Minister’s statement came amid social media posts claiming that the accused was a BJP youth leader after a video of the alleged assault surfaced online and triggered widespread outrage.

“The accused has been arrested and is not associated with the BJP,” Sarma said in a post on social media platform X.

Reiterating the state government’s zero-tolerance policy towards such incidents, the Chief Minister asserted that strict legal action would be taken against anyone involved in acts of violence on public roads.

“Road rage has no place in Assam. Anyone who indulges in such acts will face the full force of the law,” Sarma added.

The clarification came after several social media users, including public commentators, shared a dashcam video purportedly showing a confrontation between two motorists in Guwahati.

The video allegedly captured a car owner being assaulted following an altercation on the road, prompting calls for immediate action against the accused.

The incident sparked a political debate after claims circulated online that the accused was linked to the ruling BJP.

However, the Chief Minister dismissed those allegations, stating that the accused was not affiliated with the party. Police have already arrested the accused in connection with the incident. However, officials are yet to release detailed information regarding the charges invoked or the circumstances that led to the confrontation.

The viral video has generated widespread public concern over incidents of aggressive driving and road rage in urban areas. Netizens and civil society members have urged authorities to ensure swift prosecution of those responsible and to strengthen enforcement against violent behaviour on the roads.

The Assam government has repeatedly maintained that law and order violations will be dealt with firmly irrespective of the background or affiliation of those involved.

Further investigation into the incident is underway, and police are expected to record statements of witnesses and examine the video footage as part of the probe.

Ahmedabad, July 7: Kutch Copper Limited (KCL), a subsidiary of Adani Enterprises Ltd, has earned London Metal Exchange (LME) certification for ‘Adani Copper,’ according to a statement issued by the company on Tuesday.

“Approval by the world centre for the trading of industrial metals validates KCL’s manufacturing excellence and responsible sourcing practices against strict global benchmarks, enabling Adani Copper cathodes to be delivered with warrants eligible for issuance against LME Copper futures contracts from July 10, 2026,” the statement said.

For the Adani Group, LME’s listing of Adani Copper as a Good Delivery brand for ‘Copper Grade A’ contracts places the brand alongside the world’s leading copper brands, conferring international recognition and market credibility on the Group’s entry into the metals sector and its emergence as a globally competitive producer of refined copper.

“Copper is the backbone of the global energy transition. Achieving LME brand status places Adani among the world’s leading copper producers and strengthens India’s role in building a resilient, responsible supply chain for this vital metal. Kutch Copper’s world-class infrastructure and ESG standards make this recognition both timely and well-deserved. It will enhance the global acceptance of Adani Copper. Apart from reinforcing India’s growing stature in the international metals industry, the registration is a landmark step towards self-reliance in refined copper,” Adani Enterprises’ CEO, Natural Resources, and Kutch Copper Ltd Managing Director Dr Vinay Prakash said.

An LME-brand certification is a rigorous process involving superior quality assurances — covering chemical composition, shape and weight — alongside strict responsible sourcing protocols. The LME listing enables Adani Copper cathodes to be placed on warrant in LME-approved warehouses, strengthening financing flexibility as LME-listed metal is recognised as a highly liquid asset that can be used as collateral. For the LME, the addition of Adani Copper broadens the exchange’s deliverable base with high-quality cathode from a major new production hub, deepening the liquidity and geographic diversity of the global copper market.

The $1.2 billion Kutch Copper facility with production capacity of 0.5 million tonnes — one of the world’s largest single-location custom copper smelting complexes, designed with state-of-the-art technology, advanced process automation, and sustainability-led design principles embedded across operations — strengthens domestic supply, reduces the nation’s dependence on imported copper, and advances India’s ‘Aatmanirbhar Bharat’ ambitions in a metal central to electrification, renewable energy and the energy transition, the Adani Group statement added.