New Delhi: The government has appointed Ajit Kumar Das as Executive Director of Punjab & Sindh Bank. According to a notification from the Department of Financial Services under the Ministry of Finance, Das has been appointed on the post with effect from April 1. Prior to this appointment, Das was serving as Executive Director in United Bank. This information was given by the Punjab & Sind Bank, during the regulatory filing to the stock exchange on April 2.
Ajit Kumar Das has completed Bachelor of Library & Information Science (B.Lib.Sc.), Bachelor of Science (B Sc) and he is a Certified Associate of Indian Institute of Bankers (CAIJB). He started his carrier as a Probationary Officer in Canara Bank in November 1986. In a career spanning over 33 years, he has functioned in almost all areas of banking especially credit and financial inclusion. Before joining as Executive Director of Punjab & Sind Bank he was Executive Director of United Bank of India. He Das does not hold any equity share in the Bank.
Punjab & Sind Bank (PSB) is a government-owned bank, with headquarters in New Delhi. Of its 1559 branches spread throughout India, 623 branches are in Punjab state. On 24 June 1908, Bhai Vir Singh, Sir Sunder Singh Majitha, and Sardar Tarlochan Singh established Punjab & Sind Bank. On 15 April 1980 Punjab & Sind Bank was among six banks that the government nationalised in the second wave of nationalisations. In the 1960 Punjab & Sind Bank established a branch in London. In 1991 Bank of Baroda acquired Punjab & Sind Bank's London branch at the behest of the Reserve Bank of India following Punjab & Sind's involvement in the Sethia fraud in 1987.