ACC appoints new MD in 3 PSU banks

New Delhi: The Appointments Committee of the Cabinet (ACC) has appointed new MD (managing directors) in three major public-sector banks, including Bank of Baroda, Punjab National Bank and Bank of India.

Bank of Baroda gets Sanjiv Chadha as MD & CEO

The ACC has approved the appointment of Sanjiv Chadha as Managing Director & Chief Executive Officer (MD & CEO) of Bank of Baroda (BoB). "He has been appointed for a period of three years, with effect from the date of assumption of office, or until further orders, whichever is earlier," said the order. Prior to this promotion, Chadha was serving as Deputy Managing Director of State Bank of India. Chadha has taken care of various responsibilities in the banking sector, both in India and overseas, over the course of his career. His areas of specialisation include corporate finance, investment banking, mergers and acquisitions, structured finance and private equity.

Lingam Venkata Prabhakar appointed Canara Bank MD & CEO

Further, the ACC has approved the appointment of Lingam Venkata Prabhakar as Managing Director & Chief Executive Officer (MD & CEO) of Canara Bank. His appointment will take effect from "the assumption of the office on or after February 1, 2020, and up to the date of his attaining the age of superannuation i.e. December 31, 2022, or until further orders, whichever is earlier," the order said. Prior to his new appointment, he was serving as Executive Director of Punjab National Bank. Prabhakar holds a Master's degree in Agriculture and is a Certified Associate of Indian Institute of Bankers (CAIIB). Prior to joining PNB, he has served in Allahabad Bank in various capacities.

Atanu Kumar Das to be Bank of India's MD & CEO

The ACC has approved the appointment of Atanu Kumar Das as MD & CEO of Bank of India. He has been appointed for a period of three years, "with effect from the date of assumption of office, or until further orders, whichever is earlier," the order said. Prior to this, he was serving as Executive Director in the same PSU Bank since January 2015. Das has worked in the banking sector for about 26 years. He has been involved at both policy and operational levels.

Challa Sreenivasulu Setty appointed SBI MD

In a separate order, the ACC has approved the appointment of Challa Sreenivasulu Setty as Managing Director of State Bank of India (SBI). He has been appointed for 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 which would be extendable by two years or until the further orders, whichever is earlier, after review his performance," said the order. Prior to his promotion, he was serving as Deputy Managing Director (DMD) in the same bank.