BANKING AFFAIRS

Detailed explanation-1: -IDBI Bank’s Board of Directors has approved the re-appointment of Rakesh Sharma as Managing Director and Chief Executive Officer of the Bank for a period of three years with effect from March 19, 2022.

Detailed explanation-2: -4/4/2021-BO. I dated 16.01. 2023 has extended the term of office of Shri Sanjiv Chadha (date of birth: 25.6. 1963) as Managing Director and Chief Executive Officer (MD&CEO), Bank of Baroda for a further period beyond his currently notified period of appointment of three years that expires on 19.01.

Detailed explanation-3: -The Government of India recently announced the appointment of Shri K Satyanarayana Raju as the new Managing Director and CEO of Canara Bank. Shri L V Prabhakar has been replaced, and he left the office on 31st December 2022. Shri. K Satyanarayana Raju will begin the new role on 7th February 2023.

Detailed explanation-4: -The government has extended the tenure of managing director (MD) and CEO of Bank of Baroda (BoB) Sanjiv Chadha for about five months till June 30. The order dated January 14, 2023 comes ahead of his three-year tenure that ends on January 19.