RBI approves Pranav Chawda's appointment as JP Morgan Chase Bank India CEO

J P Morgan Chase Bank India on Wednesday said it will elevate Pranav Chawda as its chief executive officer.

The unit of American banking major J P Morgan said it has received the Reserve Bank's approval for Chawda's appointment as the CEO of the banking entity in India.

Chawda joined J P Morgan in 2019, and has been heading the commercial banking vertical. His responsibilities will now get expanded, under which he will also head the corporate banking entity, as per an official statement.

In order to improve client experience, the entity is integrating its commercial and corporate banking in India, which is also in line with the firm-wide announcement early this year.

"As CEO of our banking entity, Pranav's experience and deep understanding of the local market will enable him to play a pivotal role in driving corporate banking business forward," J P Morgan's senior country officer and vice-chairman for Asia Pacific Kaustubh Kulkarni said.

He added that the entity is looking to capitalise on opportunities that India presents.

Chawda joined J P Morgan as head of client banking and specialised industries that serve midsized India-headquartered companies, the statement said.