Bank of India Limited announced the appointment of Rajneesh Karnatak as Managing Director and CEO of the company, with effect from April 29, 2023.
According to the company’s exchange filing, “we wish to inform you that Central Government vide its notification No. eF No.4/2/2022- B0.1 dated 29th April, 2023 has appointed Shri Rajneesh Karnatak, Executive Director of Union Bank of India as Managing Director & Chief Executive Officer of Bank of India for a period of three years with effect from the date of assumption of office i.e. April 29, 2023 or until further orders, whichever is earlier.”
Rajneesh Karnatak was Chief General Manager of Punjab National Bank until his appointment as Executive Director in Union Bank of India from October 21, 2021. He is a post Graduate in Commerce (M.Com) and is a Certified Associate from Indian Institute of Bankers (CAIIB).
Karnatak has a rich banking experience of over 29 years and carries varied branch and Administrative office experience. As General Manager in erstwhile Oriental Bank of Commerce, he has headed Large Corporate Credit Branches and verticals such as Credit Monitoring, Digital Banking and Mid Corporate Credit. Post the amalgamation of Oriental Bank of Commerce into Punjab National Bank, he has also headed Credit Review & Monitoring Division and Corporate Credit Division in Punjab National Bank, the statement said.
Karnatak has served as Non-Executive Chairman of UBI Services Ltd., on behalf of Union Bank of India. He has also served as Non Independent Non-Executive Director on the Board of UBI (UK) Limited. He was a member of the Governing Board of Indian Institute of Bank Management (IIBM) Guwahati. He has served as Nominee Director on behalf of Punjab National Bank on the Board of PNB Housing Finance Ltd., and India SME Asset Reconstruction Company Limited. He also served as Board Trustee on IAMCL (IIFCL Asset Management Co. Ltd).
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