New MD and CEOs for Bank of Baroda, Bank of India and Canara Bank

The government has appointed Sanjiv Chadha Managing Director (MD) and Chief Executive Officer (CEO) of Bank of Baroda (BoB). He succeeds P S Jayakumar, whose term ended in October last year.


Chadha will have a three-year term at the bank from the day he assumes office, according to a Government of India notification.


Chadha is currently working as the MD and CEO of SBI Capital Markets — the merchant and investment banking arm of State Bank of India (SBI). The Banks Board Bureau had recommended his name for the post of MD and CEO at BoB in November 2019.


Bank of India (BoI) executive director has been elevated to the post of MD and CEO. He will head the bank for three years from date of assuming office.


The post has been vacant since June last year when Dinabandhu Mohapatra demitted office.


L V Prabhakar has been named the new MD and CEO at Bengaluru-based Canara Bank. He will take charge on February 1.


Prabhakar, who has been working as executive director at Punjab National Bank since March 1, 2018, will succeed R A Sankara Narayanan.


The government has also elevated SBI Deputy Managing Director Challa Sreenivasulu Setty to the post of MD of the bank for a period of three years.


His term is extendable for another two years.


The Appointments Committee of the Cabinet has approved the proposal of the Department of the Financial Services for the appointment of Setty.

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