The Centre on Saturday appointed Debadatta Chand as managing director and chief executive officer (MD and CEO), Bank of Baroda, and Rajneesh Karnatak as MD and CEO of Bank of India for a period of three years, as per exchange notices filed by the two banks.
Chand, who earlier served as executive director at Bank of Baroda, will take over as the MD and CEO from July 1 for a period of three years, succeeding outgoing bank chief Sanjiv Chadha. Chand has over 27 years of experience in commercial banks and developmental financial institutions, including Allahabad Bank, Small Industries Development Bank of India (SIDBI) and Punjab National Bank. He was also on the board of PNB Principal Mutual Fund and SWIFT India, among others. His special expertise is in treasury operations, investment banking and market risk management.
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Karnatak, meanwhile, has taken over as Bank of India MD and CEO from Saturday. Prior to leading Bank of India, Karnatak was executive director at Union Bank of India. “Karnatak has a rich banking experience of over 29 years and carries varied branch and administrative office experience. As general manager in erstwhile Oriental Bank of Commerce, he headed large corporate credit branches and verticals such as credit monitoring, digital banking and mid-corporate credit,” Bank of India said in an exchange notice.