New Managing Director of Bank of India
The Government of India has appointed Rajnish Kumar as the Managing Director (MD) and Chairman of the Bank of India (BOI). Rajneesh Karnataka is presently restricted 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.
Information about Rajneesh Kumar's career
- Rajneesh Kumar is an Indian banker. He took over as the chairman of the State Bank of India.
- Throughout his career in banking, Karnataka has held key positions such as General Manager at Oriental Bank of Commerce, where he headed large corporate credit branches and key departments such as credit monitoring, digital banking and medium corporate credit.
- After the amalgamation of Oriental Bank of Commerce into Punjab National Bank, Rajneesh Karnataka took over as the head of both Credit Monitoring Division and Corporate Credit Division in PNB. He has extensive experience in project funding and working capital funding as well as risk management with a special focus on credit risk.
- Karnataka served as a 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 UBIBI (UK).
- He was also a member of the Governing Board of the Indian Institute of Bank Management (IIBM) in Guwahati.
- Karnataka acted as Nominee Director on behalf of Punjab National Bank.
- Additionally, he served as the Board Trustee at IIFCL Asset Management Company (IAMCL).
Bank of India
Bank of India was established on September 7, 1906 by a group of eminent businessmen from Mumbai. The bank was privately owned till July, 1969 when it was nationalized along with 13 other banks. Bank of India is one of the leading banks in India with a total branch network of 4,293 including 29 foreign branches. These branches are controlled through 50 regional offices. Maximum number of branches are in Mumbai followed by Ahmedabad and Pune.
Bank of India is a founding member of SWIFT in India. The bank has completed its first hundred years of operation on 7 September 2006. Presently in 22 foreign countries spread over 5 continents – 56 Offices including 5 Subsidiaries, 5 Representative Offices and 1 Joint Venture – Bank's presence in major banking and financial centers like Tokyo, Singapore, Hong Kong, London, Jersey, Paris and New York Is.