The government announces new Chairmen for IOB, BoB and Uco Bank

The Central Government has appointed Srinivasan Sridhar as part-time Non-Official Director and Non-Executive Chairman, of the Board of Indian Overseas Bank for three years. Meanwhile, Sridhar resigned from the post of Shareholder Director at Bank of Baroda with immediate effect on February 21, 2024.

The nomination of M.R. Kumar as a non-executive chairman and part-time non-official director on the Bank of India board for a three-year term was also accepted by the Appointments Committee of the Cabinet (ACC). Kumar earlier served as the Life Insurance Corporation of India’s Chairman.

Aravamudan Krishna Kumar has also been appointed as a part-time non-official Director and Non-Executive Chairman on the Board of UCO Bank for a term of three years. He is a former Managing Director of the State Bank of India. The appointment is subject to the condition that he resigns from the Board of Suraksha Asset Reconstruction Limited.