M V Rao Elected as New Chairman of Indian Banks Association

The Indian Banks’ Association (IBA) has elected M V Rao, Managing Director and Chief Executive Officer of the Central Bank of India, as its new Chairman. The decision was taken during the IBA’s managing committee meeting held on Thursday.

Vice-Chairmen Elected

The committee also elected the following three individuals as Vice-Chairmen of the banking lobby group:

1. Dinesh Kumar Khara, Chairman of State Bank of India (SBI)
2. S L Jain, Managing Director and Chief Executive of Indian Bank
3. N Kamakodi, Managing Director and Chief Executive of City Union Bank

Honorary Secretary Appointed

Madhav Nair, the Country Head and Chief Executive of the Bank of Bahrain and Kuwait, was unanimously elected as the Honorary Secretary of the IBA.

Madhav Nair’s Role

Madhav Nair, who previously held the position of Deputy Chairman, has been a management committee member since 2016. He has undertaken policy advocacy in areas such as Technology, Risk Management, and Environmental, Social, and Governance (ESG) factors.

About the Indian Banks’ Association (IBA)

The IBA is a representative body of Indian banks, comprising public sector, private sector, foreign, cooperative, and regional rural banks. It plays a crucial role in shaping banking policies and promoting best practices in the Indian banking industry.

The election of the new leadership team at the IBA is expected to provide fresh impetus and direction to the association’s efforts in addressing the challenges and opportunities faced by the banking sector in India.