Karnatak has been working with the State Bank of India (SBI) since 1984 and has held various positions during his tenure. His most recent position was as the Chief General Manager (CGM) at SBI’s North Eastern Circle. Karnatak will be taking over the position of managing director at BoI from Atanu Kumar Das, who retired on April 30th.
Meanwhile, Chand has been working with BoB since 1991 and has held various positions in the bank. His most recent position was as the Executive Director at the bank. Chand will be taking over the position of Managing Director and CEO at BoB from Sanjiv Chadha, who was recently appointed as the MD and CEO of National Bank for Agriculture and Rural Development (NABARD).
These appointments come at a time when the banking sector is going through a challenging period due to the ongoing pandemic. The banking sector has been hit hard by the pandemic and has been facing a lot of challenges in terms of loan defaults and restructuring. The appointment of new leaders in these banks is expected to bring in fresh ideas and strategies to overcome these challenges.
Bank of India and Bank of Baroda are two of the largest public sector banks in India. Bank of India has a network of over 5,000 branches across the country and offers a range of services such as personal banking, corporate banking, and international banking. Bank of Baroda, on the other hand, has a network of over 9,000 branches and offers a range of services such as personal banking, corporate banking, and treasury operations.
The appointment of new leaders in these banks is expected to boost the morale of the employees and help in bringing in new ideas and strategies to improve the performance of these banks. The banking sector is a critical sector for the Indian economy, and the government has been taking various steps to ensure the stability and growth of the sector.