♦ The government has appointed Ashok Chandra as the Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB) and Binod Kumar as the MD and CEO of Indian Bank on 16 January 2025.

♦ Prior to these appointments, Chandra was an executive director at Canara Bank, while Kumar was an executive director at PNB.

♦ Kumar has been given a three-year term and will be eligible for an extension of up to two more years, following a performance review. Chandra has also been appointed for a three-year term. 

♦ Kumar has held various key positions at PNB, including Chief General Manager (Corporate Credit), Zonal Manager, and CEO of PNB Operations at the Dubai International Financial Centre.

♦ Kumar began his banking career at PNB as a management trainee in 1994 and was elevated to the position of executive director in November 2022.

♦ Chandra, who joined Canara Bank as an executive director in November 2022, oversaw various verticals, including digital banking and information technology, strategy and planning, marketing and public relations, financial inclusion, micro, small, and medium enterprises (MSME), retail assets, agriculture, and priority sectors.

♦ The top posts at PNB and Indian Bank fell vacant after the tenures of Atul Kumar Goel and SL Jain, respectively, ended on 31 December 2024.