Retired SBI senior executive Natarajan Sundar joins NARCL as MD CEO

Karnam Sekar, Malvika Sinha named independent directors; NARCL Board now has 5 nominees from shareholder banks, one more independent director likely to join soon

Former State Bank of India exexutive Natarajan Sundar has joined National Assets Reconstruction Company Ltd (NARCL) as managing director and CEO on May 30.

Sundar is a banking veteran having served SBI for over 37 years and retired as Dy MD and Chief Credit Officer of the bank on April 30, 2022, SBI said in a statement.

NARCL, a the special purpose vehicle set up as a joint initiative of Public and Private Sector Banks, is expected to takeover bad loans from banks and focus on resolution and recoveries.

He was selected through a competitive selection process through an open