Debadatta Chand has been appointed as the Managing Director (MD) of Bank of Baroda (BOB), according to a government announcement made on April 29. Chand is currently serving as the Executive Director of the bank. He will assume the position of MD for a term of three years, effective from July 1, 2023, or until further notice. This appointment follows the term extension of the previous MD, Sanjiv Chadha, which ended on January 19, 2021, and was extended by the government for an additional five months until June 30, 2021.
After receiving approval from the Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi, the appointment notifications were issued. In January of this year, the Financial Services Institutions Bureau (FSIB), which is responsible for recruiting directors for state-owned banks and financial institutions, recommended Debadatta Chand’s name for the position of Managing Director and CEO at Bank of Baroda.
Career of Debadatta Chand
Debadatta Chand has an educational background that includes completing his Plus 2 in the Science stream at Rajendra College, Bolangir. He also holds a B.Tech degree from the Odisha University of Agriculture and Technology and an MBA in Finance from the Indian Institute of Social Welfare and Business Management.
Chand began his career as an Officer in Allahabad Bank in 1994 and later worked as a Manager at the Small Industries Development Bank of India [SIDBI] from 1998 to 2005. He joined Punjab National Bank (PNB) in 2005 as Chief Manager and eventually rose to the position of Chief General Manager. Prior to his role as Executive Director at Bank of Baroda, Chand served as the CGM for Mumbai Zone at PNB.
Important takeaways for all competitive exams:
- Bank of Baroda Founder: Sayajirao Gaekwad III;
- Bank of Baroda Founded: 20 July 1908, Vadodara;
- Bank of Baroda Headquarters: Alkapuri, Vadodara.