Mumbai: Banks Board Bureau (BBB) has recommended three people for the post of managing director (MD) and chief executive officer (CEO) at three public sector banks. In a notification released on November 12, BBB has recommended Sanjiv Chadha for Bank of Baroda (BoB), LV Prabhakar as new MD and CEO of Canara Bank and Atanu Kumar Das for the same post at Bank of India (BoI).
Sanjiv Chadha, who is currently serving as MD and CEO of SBI Capital Markets Limited (SBICAP), a wholly-owned investment banking subsidiary of the State Bank of India (SBI), will take over as the new MD and CEO of Bank of Baroda. With his new appointment, Chadha will replace PS Jayakumar, who was heading the same position in the bank and retired on October 12.
LV Prabhakar, who is currently serving as Executive Director (ED) at Punjab National Bank (PNB), has been recommended for the post at Canara Bank. Prabhakar will now replace RA Sankara Narayanan, who is heading the same position in the bank since April 4 and will retire in January 2020.
Atanu Kumar Das, who is currently serving as Executive Director of Bank of India (BoI), has been recommended for the post of new MD and CEO of the same bank. With his new appointment, Das will replace Dinabandhu Mohapatra, who was heading the same position in the bank and had retired on June 30.
The Ministry of Finance will make the final decision on the appointments in consultation with the Prime Minister’s Office.
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Banks Board Bureau
The Banks Board Bureau is an autonomous body under the government tasked with improving corporate governance at public sector banks, building capacities and recommending the selection of chiefs at the PSU banks. The BBB also helps banks in developing strategies and capital raising plans. Bhanu Pratap Sharma is the current CEO of Bureau.