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Asset Reconstruction Company (India) Ltd (Arcil) on Tuesday announced the appointment of Pallav Mohapatra as its Chief Executive Officer and Managing Director.
Prior to the appointment, Mohapatra was the MD and CEO of Central Bank of India (CBoI) from September 21, 2018, to February 28, 2021. Before being elevated as MD and CEO of CBoI, he was Deputy Managing Director, Stressed Assets Management Group, State Bank of India.
Vinayak Bahuguna headed Arcil as MD and CEO for five years till June 2020.
Anil Gorthy, Chairman, Arcil, in a statement, said Mohapatra brings with him years of seasoned banking insight and a wealth of experience in the industry, particularly management of stressed assets.
Arcil, which was set up in 2002, currently has assets under management (in non-performing loans) of ₹12,000 crore, according to the statement.
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