7 Public Sector Banks get new MDs, CEOs

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In a bid to improve their efficiency, the government today announced a major reshuffle in the top management of 7 public sector banks.

Newly appointed MDs & CEOs of Public Sector Banks

• Sunil Mehta, executive director in Corporation Bank, has been appointed as India's second largest public sector bank, Punjab National Bank, in place of Ananthasubramanian.
• Dinabandhu Mohapatra, who is currently serving as an executive director at Canara Bank, will join Bank of India as MD and CEO until June 2019.
• Punjab National Bank Managing Director Usha Ananthasubramanian has been shifted to Kolkata-based Allahabad Bank.
• MD and CEO of Bank of India Melwyn Rego moved to Syndicate Bank with immediate effect. He will join Syndicate bank by June end. He will serve until August 2018. 
• Rajkiran Rai G., MD and CEO of Oriental Bank of Commerce has been appointed as the MD & CEO of Union Bank of India. He will join the bank after 1st July and will be in this position for 3 years. He will be replacing Arun Tiwari, whose tenure ends in June.
• R.A. Sankara Narayanan, executive director at Bank of India, will now take charge of Vijaya Bank as MD and CEO, starting from September 2017. His tenure will end in January 2020.
• R. Subramaniakumar, an executive director at Indian Overseas Bank (IOB), was appointed managing director (MD) and chief executive officer (CEO) of IOB till 30 June 2019.

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