New Delhi/ Mumbai: Shanti Lal Jain has been appointed Managing Director and Chief Executive Officer of Indian Bank for three years, a Personnel Ministry order issued on Thursday said. Jain is currently Executive Director (ED), Bank of Baroda.

The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for the appointment of Jain as Managing Director & Chief Executive Officer in Indian Bank for a period of three years with effect from the date of assumption of office on or after September 1, 2021, it said.

Jain's appointment is extendable based on his performance by up to two years, or till attaining the age of superannuation (i.e.January 31, 2024), the order said.

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