BoM chief Mallya may move to BoB

M D Mallya, chairman and managing director, Bank of Maharashtra (BoM), is likely to be the new chairman of Bank of Baroda (BoB).

A K Khandelwal, current chairman of BoB, is retiring on March 31.

Allen C A Peirera, executive director, Oriental Bank of Commerce, will become the next chairman of Bank of Maharashtra after Mallya moves to BoB, industry sources said.

The finance ministry has cleared the appointments, and the cabinet is likely to give its approval by March.

There will be reshuffles in 10 public sector banks in 2008. Besides BoB and BoM, other banks that will see change of guard include Canara Bank, Vijaya Bank, Andhra Bank, United Bank, Corporation Bank, Dena Bank, Central Bank and Syndicate Bank.