3 PSBs get new MD & CEOs

The government has recently appointed heads of three public sector banks – Bank of Baroda, Bank of India and Canara Bank for three years. The Appointments Committee of the Cabinet (ACC) appointed Sanjiv Chadha as the managing director and chief executive of Bank of Baroda, Lingam Venkat Prabhakar as MD & CEO of Canara Bank and Atanu Kumar Das as MD & CEO of Bank of India.
Chadha was the deputy managing director at State bank of India in charge of SBI Capital Markets. He will replace P.S. Jayakumar whose term came to end after his one-year extension ended in October last year. Prabhakar was the executive director of Punjab National Bank and he will be replacing RA Sankara Narayanan who will retire end of this month.
Das was the ED at Bank of India who will be promoted to the post of MD& CEO in the same bank following its vacancy since July last year. Among the three state-owned banks, Bank of Baroda has already been merged with two smaller state-run banks – Dena Bank and Vijaya Bank. Canara Bank is in the process of merging Syndicate Bank with itself.