Chennai, April 30
MR S.C. Gupta, Chairman and Managing Director, Indian Overseas Bank, will take over as the Chairman and Managing Director of Punjab National Bank.
A Finance Ministry notification issued on Saturday said he would hold this post till May 31, 2007.
Mr Gupta, 58, leaves IOB after being its Chairman and Managing Director for four years. He joined the bank as its Executive Director in December 1999 and was elevated to the top post on May 1, 2001.
When contacted, Mr Gupta said he would continue with the efforts he had put in at IOB. "The time spent here has produced wonderful results and my faith has been reinforced in the efforts taken," he said.
Mr Gupta said Punjab National Bank was a strong bank and he would identify areas that could be strengthened to improve its performance.
K.N Prithviraj to head OBC
Our New Delhi Bureau reports: The Government has appointed Mr K.N. Prithviraj as the new Chairman and Managing Director, Oriental Bank of Commerce. He will take over from Mr B.D. Narang on his superannuation.
Mr Prithviraj was the Executive Director, United Bank of India. He will hold office in OBC till March 31, 2007.
The Government also asked the current Chairman and Managing Director of National Housing Bank, Mr P.K. Gupta, to take additional charge as the CMD of United Bank of India.