ACC Extends Tenure of Bank of India, Bank of Baroda CEOs by Three Years
The Appointments Committee of the Cabinet (ACC) has approved the three-year extension for the Managing Directors and CEOs of Bank of India and Bank of Baroda. This decision is taken under the leadership of the PM Narendra Modi and it ensures the continuity in top leadership as the current tenures of these executives are near to completion in 2026.
Mr. Rajneesh Karnatak will continue as the Managing Director and CEO of Bank of India for another three years.
His new tenure,
He was initially appointed in 2023 and this extension showcases the government’s confidence in his leadership and the performance in the bank.
Similarly Mr. Debadatta Chand has also been granted the three-year extension as MD and CEO of Bank of Baroda.
Key details
This move aligns with the standard process which followed for senior-level appointments in the public sector banks and ensuring the smooth transition and operational stability.
The government is yet to decide on the extension of Ashwani Kumar who is currently heading the UCO Bank.
In related situation Mr. Ashutosh Choudhary the Executive Director at Indian Bank has also received the three-year tenure extension.
This follows the standard policy for the senior management roles in the public sector banks and which is ensuring continuity in leadership across institutions.
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