The Modi government on Saturday (29.04.2023) appointed Rajneesh Karnatak as Managing Director of Bank of India (BoI) while Debadatta Chand as head of Bank of Baroda (BoB). According to an order issued by the Department of Financial Services (DFS), Karnatak has been appointed to the post of MD & CEO of the Bank of India for three years with effect from the date of assumption of office. Presently, Karnatak is serving as Executive Director, Union Bank of India.
Karnatak replaces Atanu Kumar Das who completed his three-year term in January this year.
In a separate notification by DFS said Chand has been appointed as Managing Director of the BoB bank for a period of three years. Presently, he is serving as ED in the same bank.
However, Chand would assume charge on July 1 after incumbent Sanjiv Chadha retires on June 30.
The notifications for the two appointments came after the approval of the Appointments Committee of the Cabinet, headed by Prime Minister Narendra Modi. The Financial Services Institutions Bureau (FSIB) in January selected their names and recommended them to DFS for seeking necessary approval.
