The Financial Services Institutions Bureau (FSIB) has recommended Binod Kumar, the Executive Director (ED) of Punjab National Bank, for the role of Managing Director (MD) and Chief Executive Officer (CEO) of Indian Bank. The announcement follows a government notification issued on 24th November, 2024. Kumar is set to succeed S L Jain, who will retire next month.
The FSIB, responsible for selecting top executives for state-owned banks and financial institutions, conducted interviews with 15 candidates on the same day the notification was issued to shortlist suitable contenders for MD & CEO roles in public sector banks.
FSIB in its official notification, stated, “Based on their performance in the interviews, overall experience and existing parameters, the Bureau recommends Binod Kumar for the position of MD & CEO of Indian Bank.”
The recommendation will now be reviewed by the Appointments Committee of the Cabinet (ACC), chaired by Prime Minister Narendra Modi, for final approval.
Indian Bank, headquartered in Chennai, is one of India’s leading public sector banks. With Kumar’s experience in the banking sector, his appointment is anticipated to bolster the institution’s leadership and drive its future growth.
