![Govt appoints Rajneesh Karnatak as BoI MD, Chand to head BoB](http://media.assettype.com/psuwatch%2F2023-04%2F3828427f-1404-41be-8da9-94c9015c1c5d%2FGovt_appoints_Rajneesh_Karnatak_as_BoI_MD__Chand_to_head_BoB.jpg?w=480&auto=format%2Ccompress&fit=max)
New Delhi: The government on Saturday appointed Rajneesh Karnatak as managing director of Bank of India (BoI) while Debadatta Chand as head of Bank of Baroda (BoB). The central government appoints Karnatak, Executive Director, Union Bank of India, as managing director and CEO of Bank of India for three years with effect from the date of assumption of office, the Department of Financial Services said in a notification. Karnatak replaces Atanu Kumar Das who completed his three-year term in January this year.
In a separate notification, DFS said Chand, currently ED of BoB, has been appointed as head of the same bank for a period of three years. However, Chand would assume charge on July 1 after incumbent Sanjiv Chadha superannuates on June 30.
The notifications for the two appointments came after the approval of the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi. The Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned banks and financial institutions, in January had selected their names and recommended them to DFS for seeking necessary approval.
(PSU Watch– India's Business News centre that places the spotlight on PSUs, Bureaucracy, Defence and Public Policy is now on Google News. Click here to follow. Also, join PSU Watch Channel in your Telegram. You may also follow us on Twitter here and stay updated.)