New Delhi: The Central government has nominated Parvathy V Sundaram for the post of Director on the Board of Bank of Baroda (BoB) with immediate effect and until further orders, whichever is earlier. She is retired Executive Director of the Reserve Bank of India. With her new assignment, Sundaram has replaced Ajay Kumar (Existing Director on Board of Bank of Baroda representing RBI), BoB said in a regulatory filing to the stock exchanges on Thursday.
Sundaram is a postgraduate in Economics with a specialisation in Econometrics from the Madras Christian College affiliated to the Madras University, and a Certified Associate of the Indian Institute of Bankers. She has around 32 years of experience in the banking industry with around 30 years in the Reserve Bank of India (RBI). Prior to joining the RBI, she was working as an officer with Corporation Bank at their Head Office in Mangalore. She joined the RBI in March 1984 and worked in various capacities in almost all departments of the RBI across five centres with over eight years in Banking Regulation and Supervision.
Bank of Baroda (BoB) is an Indian multinational, public sector banking and financial services company. It is the third-largest public sector bank in India, with 131 million customers and a global presence of 100 overseas offices. In September 2018, the government announced the merger of Bank of Baroda, Vijaya Bank and Dena Bank to create the country's third-largest lender. The amalgamation is the first-ever three-way consolidation of banks in the country, with a combined business of Rs 14.82 trillion (short scale), making it the third-largest bank after the State Bank of India (SBI) and ICICI Bank.
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