New Delhi: Matam Venkata has been appointed as the new Managing Director and Chief Executive Officer (MD & CEO) of Central Bank. According to the bank, the central government has appointed him to the post for a period of three years with effect from the date of assumption of office on or after March 1, or until further orders, whichever is earlier. Prior to this, he was serving as Executive Director in the same public sector bank. This information has been shared by the bank in a regulatory filing to the stock exchange on Monday. With this, Venkata has replaced MD Pallav Mohapatra, who retired as the MD & CEO of the Central Bank of India on February 28, 2021.
Central Bank of India, a government-owned bank, is one of the oldest and largest commercial banks in India. It is based in Mumbai which is the financial capital of India and the capital city of the state of Maharashtra. It is one of twelve public sector banks in India to get recapitalised in 2009. In a merging initiative of the NDA government, the Central Bank of India is kept as a separate entity owing to its pan-India presence.
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