Rajneesh Karnatak, Dr. Debadatta Chand Get Three-Year Extensions At Bank Of India & Bank Of Baroda, Respectively
The government has approved a three-year extension for the Chief Executive Officers and Managing Directors (CEOs & MDs) of Bank of India and Bank of Baroda beyond their current terms.
Rajneesh Karnatak, CEO & MD of Bank of India, will continue in the role for three years, effective April 29, 2026. The Appointment Committee of the Cabinet, headed by Prime Minister Narendra Modi, has also approved a three-year extension for Dr. Debadatta Chand, CEO & MD of Bank of Baroda, effective July 1, 2026. Separately, the committee has extended the term of Ashutosh Choudhary as Executive Director of Indian Bank for three years.
Further, the government has not made a decision on the tenure of Ashwani Kumar, CEO & MD of UCO Bank, whose term ends effective June 1, 2026.
Karnatak has over 31 years of experience in banking and has worked across credit, risk management, and digital banking functions. He previously served as Executive Director at Union Bank of India and as Chief General Manager (CGM) at PNB. He has handled credit monitoring, corporate credit, and mid-corporate business. He has also served on the Boards of financial institutions and is associated with industry bodies, including the Indian Banks’ Association. He holds a postgraduate degree in commerce and a CAIIB certification from the Indian Institute of Bankers.
Dr. Chand has over 31 years of experience in banking and financial services across institutions, including Punjab National Bank (PNB), Small Industries Development Bank of India, and Allahabad Bank. He previously served as Executive Director at Bank of Baroda from 2021 to 2023, handling corporate credit, treasury, international banking, and key functions such as risk, audit, and compliance. He has also worked as a Zonal Head, a Regional Head, and a Treasury Head. Dr. Chand serves on the Boards of financial institutions and industry bodies, including the Indian Banks’ Association. He holds a B.Tech, MBA, CAIIB qualification, and a PhD in management.
Choudhury has over two decades of experience in banking across multiple public sector banks, including PNB, Oriental Bank of Commerce, United Bank of India, and Allahabad Bank. He previously served as CGM and Group Chief Risk Officer (GCRO) at Punjab National Bank. His experience includes enterprise risk management, strategic planning, MSME and retail credit, digital banking, treasury, and corporate credit. He has completed an executive leadership programme at the Indian Institute of Management Bangalore and has served on the Board of PNB Gilts. He holds an MBA and is a Certified Associate of the Indian Institute of Bankers (CAIIB).
