Rajneesh Karnataka appointed as new MD & Chairman of Bank of India

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Rajneesh Karnataka appointed as new MD & Chairman of Bank of India

Rajneesh Karnataka has been appointed as the Managing Director (MD) and Chairman of Bank of India (BOI) by the Government of India.

An Overview of the News

  • Rajneesh Karnataka is currently serving as the Executive Director of Union Bank of India.

  • He will hold the role of MD & CEO of Bank of India for a period of three years, from the date he assumes charge or until further instructions.

  • With over 29 years of experience in the banking sector, Karnatak has served as the Chief General Manager of Punjab National Bank before being appointed as the Executive Director of Union Bank of India on October 21, 2021.

  • Karnataka holds a Master of Commerce degree and is a certified associate from the Indian Institute of Bankers (CAIIB).

About Rajneesh Karnataka's career and experience

  • He has held several key positions in the banking sector, such as General Manager at Oriental Bank of Commerce, where he headed key departments such as large corporate credit branches, digital banking, credit monitoring and mid-corporate credit.

  • Following the amalgamation of Oriental Bank of Commerce into Punjab National Bank, Karnatak took over as the head of both Credit Monitoring Division and Corporate Credit Division in PNB.

  • Karnataka served as non-executive chairman of UBI Services on behalf of Union Bank of India and was a non-independent non-executive director on the board of UBI (UK).

  • He was also a member of the Governing Board of the Indian Institute of Bank Management (IIBM) in Guwahati.

  • Karnataka served as a nominee director on behalf of Punjab National Bank on the boards of PNB Housing Finance and India SME Asset Reconstruction Company.

  • Additionally, he served as the Board Trustee at IIFCL Asset Management Company (IAMCL).

Bank of India:

Founder- Ramnarayan Ruia

Established- 7 September 1906

Headquarters- Mumbai

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