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Govt extends tenure of Bank of Baroda MD Sanjiv Chadha by 5 months

The order dated January 14, 2023 comes ahead of his three-year tenure that ends on January 19

Bank of Baroda | Indian Banks

Press Trust of India  |  New Delhi 

Sanjiv Chadha, MD & CEO, Bank of Baroda
Sanjiv Chadha, MD & CEO, Bank of Baroda

The government has extended the tenure of managing director (MD) and CEO of (BoB) Sanjiv Chadha for about five months till June 30.

The order dated January 14, 2023 comes ahead of his three-year tenure that ends on January 19.

The Appointments Committee of the Cabinet (ACC) has approved the proposal of the Department of Financial Services for extending the term of Chadha till June 30, 2023, when he attains 60 years, the retirement age, sources said.

Meanwhile, the Financial Services Institutions Bureau (FSIB), the headhunter for directors of state-owned and financial institutions, on Saturday recommended elevation of Executive Director (ED) Debadatta Chand as managing director of .

Besides, the Bureau recommended Union Bank of India ED Rajneesh Karnatak for the position of MD & CEO in Bank of India.

The final decision on the FSIB recommendation would be taken by the Appointments Committee of the Cabinet headed by Prime Minister Narendra Modi.

The Bureau in November 2022 suggested the name of K Satyanarayana Raju for the position of MD and CEO of Canara Bank. Raju is currently Executive Director with the bank. Raju is likely to be replaced by H S Ahluwalia, a general manager in Indian Bank.

FSIB is headed by former secretary, Department of Personnel and Training (DoPT), Bhanu Pratap Sharma.

Other members of the headhunter are Animesh Chauhan, former chairman and managing director of erstwhile Oriental Bank of Commerce, RBI's ex-executive director Deepak Singhal, and Shailendra Bhandari, former MD of erstwhile ING Vysya Bank.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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First Published: Sun, January 15 2023. 13:09 IST