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Bank of India, PNB get new chiefs; Usha Ananthasubramanian moved to Allahabad Bank
May 09, 2017
- Citing the need for longer terms, the government has appointed Sunil Mehta and DinabandhuMohapatra as chief executive officers of Punjab National Bank (PNB) and Bank of India (BOI), respectively.
- Mehta, who is currently executive director at Corporation Bank, will take Usha Ananthasubramanian’s place, while Mohapatra will replace MelwynRego.
- As a result, Ananthasubramanian has been asked to head Allahabad Bank while Rego will be appointed CEO of Syndicate Bank.
- The government wanted to give a longer term to the new incumbents at the two large banks with a view to fast track the loan resolution process, the report quoted a Finance Ministry official as saying,“These two banks are leaders in various consortium loans; that is why we need long tenures”.
