Debadatta Chand appointed as new chief of BoB; Rajneesh Karnatak to head BoI

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The Cabinet Appointments Committee (ACC) approved the appointment from Debadatta Chand and Rajneesh Karnatak as Managing Director and Chief Executive Officer of Bank of Baroda (BoB) and Bank of India (BoI), respectively, for a period of three years.

Chand’s appointment as Chairman of BoB Bank is effective from the date of taking office on or after 1 July 2023, or until further orders, whichever is earlier.

Sanjeev Chadha, Managing Director and CEO of BoB Bank, will retire on June 30, 2023. He has been at the helm of the bank since January 2020.

The appointment of Karnatak as Chairman of the Board of Investment is effective from the date of taking office until further orders, whichever is earlier.

AK Das’ three-year term as Managing Director and CEO of the Investment Board expired in January 2023.