Shanti Lal Jain has been named as the Chief Executive Officer and Managing Director of Indian Bank for a long time, and a Personnel Ministry request on Thursday said. Shanti Lal Jain is designated as the Executive Director (ED), Bank of Baroda at present.
The ACC (Appointments Committee of Cabinet) has supported the proposition of the Financial Services Department for the arrangement of Jain as Managing Director and Chief Executive Officer in Indian Bank for a time of three years with impact from the date of suspicion of office on or after September 1, 2021, it said.
The ACC (Appointment Appointments Committee of Cabinet) has named Shanti Lal Jain as the Chief Executive Officer (CEO) and Managing Director (MD) of Indian Bank for three years.
Jain is, as of now, the Executive Director of Bank of Baroda. His residency of three years would begin from Sep 1 and will be extendable for an additional two years or until accomplishing the period of superannuation, whichever is prior.
Jain will supplant Padmaja Chunduru, whose term at the public area bank would end on August 31.
The Banks Board Bureau (BBB), subsequent to talking to nine up-and-comers, had suggested Jain as the MD of Indian Bank. The BBB—a self-sufficient body for further developing administration and sheets of public area monetary foundations—had proposed Soma Sankara Prasad as the top up-and-comer in the save list for a similar position.