MD, CEO and Head of Banks in India (Updated)

We are sharing with you the List of Important Office Holders, Bank CEO and MD’s Name in India. It will help you in upcoming IBPS,SSC and other competitive exams.

Nationalised Banks

--> State Bank of India (SBI)–Shri Dinesh kumar Khara (Chairman)
--> Bank of Baroda (BoB)–Shri Sanjiv Chadha (MD & CEO)

--> Bank of India (BoI)–Shri Rajneesh Karnatak (MD & CEO)
--> Bank of Maharashtra (BoM)–Shri A S Rajeev (MD & CEO)
--> Canara Bank– Shri K Satyanarayana Raju (MD & CEO)
--> Central Bank of India–Shri Matam Venkata Rao (MD & CEO)
--> Indian Bank–Shri Shantilal Jain (MD & CEO)
--> India Post Payment Bank (IPPB)- Shri  J Venkatramu (MD & CEO)
--> Indian Overseas Bank (IOB)–Shri Ajay Kumar Srivastava (MD & CEO)
--> Punjab and Sind Bank–Shri Swarup Kumar Saha (MD & CEO)
--> Punjab National Bank (PNB)–Shri Atul kumar Goel (MD & CEO)
--> UCO Bank–Shri Soma Sankara Prasad (MD & CEO)
--> Union Bank of India–Ms. A. Manimekhalai (MD & CEO)

Private Banks

-->  Axis Bank–Shri Amitabh Chaudhry (MD & CEO)
-->  AU Small Finance Bank –Shri Sanjay Agarwal (MD & CEO)
-->  Bandhan Bank–Shri Chandra Shekhar Ghosh (MD & CEO)
--> Catholic Syrian Bank–Shri C. V. R. Rajendran (MD & CEO)
--> City Union Bank–Dr. N. Kamakodi (MD & CEO)
--> Development Credit Bank (DCB)–Shri Murali M. Natrajan (MD & CEO)
--> Dhanlaxmi Bank– Shri J K Shivan (MD & CEO)
--> Equitas Small Finance Bank - Shri Vasudevan P. N. (MD & CEO)
--> Federal Bank–Shri Shyam Srinivasan (MD & CEO)
--> Fincare Small Finance Bank–Shri Rajeev Yadav (MD & CEO)
--> HDFC Bank–Shri Sashidhar Jagdishan (MD & CEO)
--> ICICI Bank– Shri Sandeep Bakhshi (MD & CEO)
--> IDBI Bank Ltd–Shri Rakesh Sharma (MD & CEO)
--> IDFC First Bank–Shri V Vaidyanathan (MD & CEO)
--> IndusInd Bank–Shri Sumant Kathpalia (MD & CEO)
--> Jammu & Kashmir Bank–Shri Baldev Prakash (MD & CEO)
--> Karnataka Bank–Shri Mahabaleshwara M. S. (MD & CEO)
--> Karur Vysya Bank–Shri B Ramesh Babu (MD & CEO)
--> Kotak Mahindra Bank–Shri Ashok Vaswani (MD & CEO)
--> Lakshmi Vilas Bank–Shri Subramanian Sundar (MD & CEO)
--> Nainital Bank–Shri Dinesh Pant (Chairman and CEO)
--> RBL Bank–Shri R Subramaniakumar (MD & CEO)
--> South Indian Bank–Shri Murali Ramakrishnan (MD & CEO)

--> Suryoday Small Finance Bank-- Shri R. Baskar Babu (MD & CEO)
--> Tamilnad Mercantile Bank– Shri Thiru K.V. Rama Moorthy (MD & CEO)
--> Ujjivan Small Finance Bank–Shri Ittira Davis (MD & CEO)
--> Yes Bank –Shri Prashant Kumar (MD & CEO)

Last Updated on Oct, 2023

Read More

Govt appoints new MD & CEO of PNB

S S Mallikarjuna Rao was on Tuesday appointed the Managing Director and Chief Executive Officer of Punjab National Bank, an official order said.

Rao, 57, currently the Managing Director and Chief Executive Officer of Allahabad Bank, has been appointed to the new post up to September 18, 2021.

"The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for posting of Ch. S. S. Mallikarjuna Rao, Managing Director and Chief Executive Officer in Allahabad Bank as Managing Director and Chief Executive Officer in Punjab National Bank, with effect from the date of assumption of office, till 18.09.2021 or until further orders, whichever is earlier," the order said.

The government in August merged United Bank of India and Oriental Bank of Commerce with Punjab National Bank, making the proposed entity the second largest public sector bank (PSB).

Read More

State Bank Of India(SBI) MD appointed as MD and CFO of World Bank

Anshula Kant, managing director of the State Bank Of India, has been appointed as managing director and chief financial officer of the World Bank, its president David Malpass announced Friday.

As Managing Director and Chief Financial Officer, Kant will be responsible for financial and risk management of the World Bank Group, reporting to the President.

"I am very pleased to appoint Anshula Kant as World Bank Group Managing Director and CFO. Anshula brings more than 35 years of expertise in finance, banking, and innovative use of technology through her work as CFO of the State Bank of India," Malpass said.

"She's excelled at a diverse array of leadership challenges including risk, treasury, funding, regulatory compliance and operations. I look forward to welcoming her to our management team as we work to increase our effectiveness in supporting good development outcomes," Malpass said.

Among other key management duties, her work will include oversight of financial reporting, risk management, and working closely with the World Bank CEO on mobilization of IDA and other financial resources.

As CFO of the SBI, Kant managed USD 38 billion of revenues and total assets of USD 500 billion. Stewarding the organization, she greatly improved the capital base and focused on the long-term sustainability of SBI within her mandate. She has been a Managing Director and member of the Board since September 2018, the World Bank said.

With direct responsibility for the SBI's Risk, Compliance, and Stressed Asset Portfolio, Kant led the creation of investment opportunities while empowering risk management throughout the bank. She held several positions across the organization and helped navigate a diverse array of leadership challenges, the bank said in a statement.

Kant is a graduate in Economic Honours from Lady Shri Ram College for Women and a Post-Graduate in Economics from Delhi School of Economics.

Read More

HDFC Bank’s next boss needs to win 15-day challenge of Aditya Puri

HDFC Bank MD Aditya Puri wants his successor to learn his job in just two weeks. The head of India's largest private sector lender said his replacement, a search for whom will begin soon, should be better than him in all respects. “If my replacement wants to be mentored for 1 year, I don’t want that replacement,” Puri said at the lender's annual general meeting. 

Puri says his replacement should not require an 18-month handholding for the job. India's highest paid bank chief, who turns 70 in October 2020, has been credited with building India’s most valuable bank from scratch. He is also the country’s longest serving bank chief, having headed the bank since its launch in 1994. 

HDFC Bank’s steady growth and performance are widely attributed to Puri’s no-nonsense leadership. 

Speculation has been rife for many years on who would succeed Puri and it has only intensified after he underwent a cardiac surgery in February 2016. 

In May 2018, Puri said while speaking to analysts that the HDFC Bank board would soon start the process of identifying his successor and the depth of leadership within the bank would ensure a smooth transition. The plan was to start the process of identifying a successor 18-24 months ahead of Puri’s retirement, and the bank planned to have a 12-month overlap period when the successor would work with Puri. 

Only three months after that pronouncement, Puri’s most trusted lieutenant and the heir apparent, Paresh Sukthankar, announced his sudden departure from the bank, throwing open the succession race. The bank has till date not appointed a replacement for Sukthankar. 

In the annual general meeting, many shareholders expressed their desire that Puri should continue beyond 70 and they were willing to support a representation to the RBI. 

Puri did not respond to representations from shareholders that they should be given preferential allotment in an IPO of the bank’s NBFC arm HDB Financial Services, stating that the reports of an IPO were speculative. Puri said that branches continue to be relevant. However, the experience in branches may change. He said that the bank was looking to add 800 branches in FY20, but would continue to focus only on the Indian market. Puri rued that a slowdown in one quarter is leading to “excessive pessimism” about the health of the overall economy. 

“Fundamentally, I think there is excessive pessimism about the rate of growth, just because it has come down in one quarter,” he told the shareholders, many of whom had asked questions on the macroeconomic worries. 

He attributed the dip in economic growth to the general elections, and also explained that the auto industry, which has been on a rough ride for almost a year now, experiences a similar phenomenon every four years. The veteran banker was referring to GDP growth sliding to a five-year low of 5.8% for the March quarter and the full FY19 growth hitting a low of 6.8%. The comments come days after Prime Minister Narendra Modi termed those questioning the economic potential as “professional pessimists” and exuded confidence in the country becoming a $5-trillion economic giant during the course of his government’s second term itself. Puri said plans laid out by the government in the Budget are “very good” and welcomed specific measures like overseas borrowing, higher divestment target, reviving non-banking lenders, bankruptcy laws and also getting excess capital from the RBI. He said there is a need to focus on exports and manufacturing but pointed out that, unlike the manufacturing-dependent China, “ours is a consumption-driven economy”.

Read More

New MD & CEO of Corporation Bank

P V Bharathi has been appointed as managing director and chief executive officer of the Corporation Bank, according to an order issued by the Personnel Ministry on December 24.

Bharathi is at present Executive Director, Canara Bank.

She will take over the charge on or after February 1, 2019 and remain in the post till March 31, 2020 - the date of her superannuation, the order said.

In another order, the ministry said Birupaksha Mishra and Balakrishna Alse S have been appointed as executive director in the Corporation Bank and the Oriental Bank of Commerce, respectively.

Mishra is General Manager, Central Bank of India. Balakrishna is GM, Corporation Bank.

K Ramachandran has been appointed as executive director of the Allahabad Bank. He is at present General Manager, Corporation Bank.

Ramachandaran will hold the office up to the date of his superannuation which is June 30, 2021.

Read More

Bank of Maharashtra appoints new MD, CEO

State-owned Bank of Maharashtra Sunday announced that A S Rajeev has joined the lender as its Managing Director & Chief Executive Officer. 

"A S Rajeev has joined Bank of Maharashtra as Managing Director & Chief Executive Officer on 2nd December 2018. Prior to this, he was Executive Director of Indian Bank from 22 January 2016," the lender said in a release. 

Rajeev is having about three decades of professional experience in three Banks - Syndicate Bank, Vijaya Bank and Indian Bank. 

A qualified Chartered Accountant, he has vast exposure and expertise in all important areas of banking, including corporate credit, international banking, treasury, risk management, credit monitoring & supervision, NPA management, planning & development, human resources, finance, accounts & taxation among others. 

He is a mathematics graduate with professional qualifications of FCA, MBA, DISA and CAIIB, the bank said. 

Read More

ICICI Bank appointed new MD and CEO after Chanda Kochhar quit

ICICI Bank has appointed Sandeep Bakhshi as the new Managing Director (MD) and CEO after Chanda Kochhar quit the bank. The bank accepted Kochhar’s early retirement and appointed Bakshi in her place.

Bakhshi held the position of the COO of ICICI Bank. He was put at the helm by the board after it asked Kochhar to go an extended leave pending an internal investigation into charges of impropriety in her role in the Videocon loan case.

Who is Sandeep Bakhshi ?

This is not the first time that Bakhshi has been asked to handle a crisis. In 2008, Bakhshi was brought in by the bank from ICICI Lombard as the bank was fighting rising delinquencies. After he deftly handled the crisis, Bakhshi was put in charge of ICICI Prudential Life in 2010. Bakhshi’s leadership saw ICICI Prudential’s Assets under Management (AUM) rise to Rs 1.4 lakh crore in 2018 from Rs 57,319 crore.

Sandeep Bakhshi is an ICICI veteran who has spent over 30 years with the financial behemoth. Bakhshi joined ICICI in 1986 at a time when it was just a development financial institution. He has seen the financial institution evolve into full-fledged bank. He built the general insurance business from scratch, which he joined in 2002. He also groomed a start-up when nobody understood insurance, which is today the largest private sector general insurer.

“He is close to the business and only one who knows corporate banking, retail banking, life insurance and general insurance,” said Kamesh Goyal chairman Digit Insurance.

Read More

Reducing NPAs is Dena Bank’s first priority, says CEO

Reducing NPAs is Dena Bank’s first priority,The second priority is the tripartite merger with Bank of Baroda and Vijaya Bank and the third priority is improvement in CASA component, Karnam Sekar, MD & CEO, Dena Bank.

What would be your key focus areas over next one year?

Dena Bank is one of the 11 banks under prompt corrective action (PCA) list. We are in a very bad shape actually with respect to non-performing assets. We have a huge pileup of NPAs, both in the corporate sector and the retail sectors. That would be the first priority. The second priority is merger with Bank of Baroda and Dena Bank and improving the profitability by cutting down the overall cost of funds would be my second priority. We are in number three position as far as CASA percentage is concerned. A further improvement of CASA component in the overall deposit portfolio would be my third priority. 

The first priority continues to be containing the NPAs and do as much recovery as possible and control the credit cost because the bank is in deep trouble and incurring loss only because of this huge credit cost. Corporate credit is contributing significantly to our troubles but fortunately because of the NCLT cases which are being handled in the last 12 months, we are seeing some good progress there. If we are able to recover some of the corporate credit NPAs, then we will come out of this problem. 

Of course, second priority, apart from this business deals would be the amalgamation of Bank of Baroda, Dena Bank and Vijaya Bank to form a fourth entity which would be the second largest public sector bank after State Bank of India. So that would be the second priority. Further, the Dena Bank board has passed a resolution last Monday. 

We will wait for the other banks too to pass the board resolutions respectively and after that we will chalk out a common plan. Maybe, we will form a coordinating committee of all these three banks and then set milestones -- what should we do going forward and how to harmonise HR, how to harmonise the systems and procedures, how to harmonise the product portfolio, how to harmonise the credit processes and how to harmonise the IT infrastructure as well. 

So harmonising these three -- IT, HR and the systems and procedures and product portfolio -- also would be our priority. The coordination committee of all the three bankers would take care of this. We have a timeline when that will be done and we will stick to the timeline that is being stipulated now. Maybe in the next two, three quarters we will try and complete the whole process of amalgamation. 

This would be unique amalgamation because three different banks are coming together and unlike State Bank of India associates where there were some similarities, here it will be three totally different banks and all three have to amalgamate and form a fourth body. That will be a unique experiment. Once this is done successfully, maybe the Government of India will think of some more. 

This consolidation was started in 2017. All the bank boards have given their view on this consolidation process and as a culmination of that, only last week we passed the board resolution and communicated to the government also. 

Could you give us a timeline for the merger to be completed?

We will get some clarity only after all three banks sit together. The first stage would be to pass the resolutions. The board has to approve the initial process. Our board has already approved and on 29th September, Vijaya Bank is meeting and in due course Bank of Baroda board will also meet. If all three boards approve this initial process, then we will sit together, form a committee and arrive at the correct timelines. 

Could you quantify the total stressed assets on the books and how much resolution do you see over FY19?

Out of almost total assets of around Rs 90,000 crore, both stressed NPAs and partially written off accounts account for Rs 19,000 crore. Out of Rs 19,000 crore, at least Rs 5000 crore will be resolved by March 2019. That means 25% of the existing portfolio would come down. That is our target for March 2019. So Rs 19,000 crore would come down to around Rs 14,500-15,000 crore. That is my estimate for the year FY19. 

Where would slippages stand and what would be the level of recoveries?

On repayment also, we are making progress in the retail slippages. We have stopped further slippages, The entire corporate credit has been recognised and there is no further slippage. As a PCA bank, we are not doing any further lending. 

What kind of capital infusion do you expect from the government?

The finance minister has been assuring that whatever capital is required for the regulatory compliance will be given. As a PCA bank, we are not growing much and so growth capital is not being discussed. But whatever is the regulatory capital requirement, we have been assured will be met by the government. 

Source- ET Now

Read More

RBI withdraws new branch permission & freezes compensation of MD & CEO of Bandhan Bank

The Reserve Bank of India (RBI) has frozen the remuneration of Bandhan Bank chief executive officer and managing director Chandrashekhar Ghosh for not complying with the promoter shareholding norms. Bandhan Bank also cannot open new branches without the regulator's permission.

"RBI has communicated to us that since the Bank was not able to bring down the shareholding of Non Operative Financial Holding Company (NOFHC) to 40 percent as required under the licensing condition, general permission to open new branches stands withdrawn and the Bank can open branches with prior approval of RBI and the remuneration of the MD & CEO of the Bank stands frozen at the existing level, till further notice," Bandhan Bank informed the stock exchanges.

The bank is taking necessary steps to comply with the licensing condition to bring down the shareholding of NOFHC in the Bank to 40 percent and shall continue to engage with RBI in this behalf, it added.

RBI’s licensing norms require a private sector bank to bring down its promoter shareholding to 40 percent within three years of operations.

Previously a microfinance institution, Bandhan Bank is one of the youngest private sector banks in India, completing three years on August 23. Bandhan went for an initial public offering (IPO) in March this year, which resulted in the promoter holding falling to 82.28 percent from 89.62 percent.

Recently, the bank failed in concluding talks to acquire PNB Housing Finance, which could have helped in bringing down the promoter holding.

Read More

MD of HDFC Life appointed as CEO & MD of Axis Bank

Ending the speculation around the appointment of its next head once Shikha Sharma demits office, Axis Bank today chose Amitabh Chaudhry, 54, as the next CEO. 

Chaudhry, who is currently the managing director of HDFC Life was widely speculated to take over as the next boss at Axis. 

He will take over as MD & CEO for 3 years from January 1, 2019 and will remian in office till December 31, 2021. 

"We wish to inform you that the Board of Directors (the Board) of the Bank at its meeting held today has taken on record the approval granted by the Reserve Bank of India (RBI) to the appointment of Shri Amitabh Chaudhry as the Managing Director & CEO of the Bank. for a period of 3 years. with effect from 1 January, 2019 up to 31 December, 2021 (both days inclusive) and the terms and conditions relating to the said appointment, including remuneration," Axis Bank said in a notice to the BSE.

The Axis board will now meet to approve the appointment of Chaudhry as additional director. 

"After an extensive search, my fellow directors and I are pleased to welcome Amitabh as the Bank's MD & CEO. Amitabh has a proven track record and is well-equipped to lead Axis Bank in pursuing its growth ambitions balanced with a strong emphasis on risk and compliance management," said Sanjiv Misra, chairman, Axis Bank. 

Chaudhry has been with HDFC Standard Life since January 2010 and is widely credited for the insurance company's sucessful IPO earlier this year. 

He started his career in the corporate banking with Bank of America in 1987, where before moving to CALYON Bank as its managing director, head south east Asian investment banking and Head technology investment banking. 

He also worked for Infosys BPO between 2003 and 2006. He is a B. Tech in (Electronic & Electricals) from the Birla Institute of Technology & Science, Pilani and is an alumnus of Indian Institute of Management, Ahmedabad. 

"I would like to thank the RBI and the Axis Bank Board for the privilege and honor given to me to lead this great institution. Axis Bank is amongst the leading private sector banks in the country. Together, with the support of the Board and the Axis team, I am confident of continuing the bank's remarkable journey these past 25 years and to contribute to its future growth," Chaudhry said in a press release. 

Read More

Government Dismisses Former Managing Director Named In PNB Scam

Ms Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank, after being named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case.

The government today dismissed Usha Ananthasubramanian, former managing director of scam hit Punjab National Bank and Allahabad Bank, from service, according to an official notification.

Ms Ananthasubramanian was, three months back, divested of all her powers as MD of Allahabad Bank, after being named in a CBI charge-sheet in the Rs 14,000 crore PNB fraud case but had continued to be an employee of the bank.

She was to superannuate today but has been dismissed from the service.

Ms Ananthasubramanian had enjoyed leadership roles in PNB in two stints. She headed the bank between August 2015 and May 2017, before moving to Allahabad Bank. She was executive director at PNB from July 2011 to November 2013.

Read More