Three large PSU banks get new heads

The government has appointed new managing director (MD) and chief executive officers (CEO) at three large public sector banks—Bank of Baroda, Bank of India, and Canara Bank—for a period of three years.

The Appointments Committee of the Cabinet has named Sanjiv Chadha as successor to P.S Jayakumar who retired from Bank of Baroda as MD and CEO in October last year. Chadha is currently the MD and CEO at SBI Capital Markets.

Bank of India executive director Atanu Kumar Das has been elevated to the position of MD and CEO after Dinabandhu Mohapatra demitted office in June last year. The post has been vacant since.

Punjab National Bank executive director Lingam Venkat Prabhakar will replace RA Sankara Narayanan, after he retires this month as MD and CEO at the bank.

The government had announced the merger of Canara Bank and Syndicate Bank after the ambitious merger of Bank of Baroda with Dena Bank and Vijaya Bank in April last year.