Binod Kumar has assumed the role of Managing Director (MD) and Chief Executive Officer (CEO) of Indian Bank on Thursday. He succeeds Shanti Lal Jain, who retired on December 31, 2024, upon superannuation.
The central government, through a notification dated January 16, 2025, appointed Kumar to the position for a three-year tenure, as informed by Indian Bank in a communication to the stock exchange.
The Financial Services Institutions Bureau (FSIB) had recommended Kumar for the MD & CEO role on November 24, 2024.
Prior to this appointment, Kumar served as the Executive Director of Punjab National Bank (PNB), where he managed critical portfolios including Corporate Banking, Treasury, International Banking, Finance, and Data Analytics.
Starting his banking career with PNB in 1994, Kumar climbed the ranks to become its Executive Director in November 2022. Over three decades in the banking sector, he has held several prominent roles, such as Chief General Manager (Corporate Credit), Zonal Manager, and CEO of PNB’s Dubai International Finance Centre operations.
Kumar also represented PNB as a nominee director on the boards of PNB Housing Finance and India SME Asset Reconstruction Company.
A science graduate, Kumar is certified in Financial Risk Management (FRM), CAIIB, and holds a diploma in Treasury Investment. He has also earned a Post Graduate Diploma in Banking and Finance from NIBM and completed a leadership program at IIM Bangalore.
