New Delhi: The Central Government has appointed Lalit Kumar Chandel as Government Nominee Director on the Board of Bank of Maharashtra. According to an official statement, he has been appointed to the post with immediate effect from August 18 and until further orders, whichever is earlier. With this, he has replaced Hrisheekesh Arvind Modak.

Chandel belongs to the Indian Economic Service (IES) officer of 1995-batch. He is currently serving as posted as Economic Adviser in the Department of Financial Services under the Ministry of Finance. He is a post-graduate in Economics, MBA and Fellow in Insurance.

Prior to the present assignment, Lalit was Government Nominee Director on the Board of ICICI Bank Limited. He served at various levels in different departments of the government including banking, Insurance, capital markets, external assistance, rural development, power, irrigation and health. He has held various key positions of Director (Insurance), Department of Financial Services, Ministry of Finance, Executive Director, CVO and Financial Adviser, Insurance Regulatory and Development Authority of India, and Whole Time Finance, Telangana State Power Generation Corporation.

Bank of Maharashtra is a nationalised bank under the ownership of the Ministry of Finance. The bank had 15 million customers across the country with 1,900 branches as of 25 March 2021. It has the largest network of branches of any nationalised bank in the state of Maharashtra. The total business of the bank crossed Rs 2,66,000 lakh crore as of December 11, 2020.

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