The Financial Services Institutions Bureau (FSIB) on Sunday (24.11.2024) recommended the appointment of Binod Kumar to the post of Managing Director & Chief Executive Officer (MD&CEO) in Indian Bank. Kumar is currently serving as Executive Director (ED) at Punjab National Bank since November 21, 2022.
FSIB had interfaced with 15 candidates on November 24 for the position of MD & CEO in Indian Bank. “Keeping in view their performance in the interface, overall experience and the extant parameters, the Bureau recommends Shri Binod Kumar for the position of MD & CEO in Indian Bank,” the FSIB statement said.
The current MD & CEO of Indian Bank, Shanti Lal Jain, is set to complete his extended tenure on December 31, 2024. His three years term was to complete on June 30 but the central government extended his term for six months.
Earlier in April, the bureau had selected Asheesh Pandey for the position but the Reserve Bank of India (RBI) had raised some reservation over his name. Therefore, the bureau held a fresh interview to choose a new person in place of Pandey.
Binod Kumar, a Graduate in science from Ranchi University and holds Post Graduate Diploma in Banking & Finance from NIBM, Financial Risk Manager from GARP (USA) and a Certified Associate Member of Indian Institute of Bankers. He started his banking journey in PNB as Management Trainee in the year 1994 and has served the bank for last 28 years. He has rich and diversified banking experience of over 28 years, ranging from Branch and Administrative Office to Risk Management, Credit etc.
