Money & Banking

SBI gets new MD; new chiefs appointed for Canara Bank, BoB and BoI

Our Bureau Mumbai | Updated on January 20, 2020 Published on January 20, 2020

File photo

The government on Monday announced the appointment of Lingam Venkata Prabhakar, Sanjiv Chadha and Atanu Kumar Das as the MD & CEO of Canara Bank, Bank of Baroda (BoB) and Bank of India (BoI), respectively.

Further, the Appointments Committee of the Cabinet (ACC) approved the appointment of Challa Sreenivasulu Setty as the Managing Director of State Bank of India (SBI).

As per the notification of the Department of Financial Services (DFS), LV Prabhakar’s appointment as Canara Bank chief is with effect from the date of assumption of office on or after February 1, 2020 and up to the date of his attaining the age of superannuation (December 31, 2022) or until further orders, whichever is earlier.

Prabhakar’s appointment as Canara Bank chief comes at a time when it is in the midst of an amalgamation with Syndicate Bank. The bank’s current chief RA Sankara Narayanan superannuates this month-end.

Chadha’s and Das’ appointments are for a period of three years with effect from the date of assumption of office, or until further orders, whichever is earlier.

BoI has been headless since June-end 2019 when Dinabandhu Mohapatra’s superannuated. BoB has been without a chief since PS Jayakumar’s term came to an end in October 2019.

CS Setty’s appointment is for a a period of three years with effect from the date of his taking over charge of the post, or until further orders, whichever is earlier and would be extendable by two years or until further orders, after review of his performance.

Published on January 20, 2020
This article is closed for comments.
Please Email the Editor