Managing director and CEO of Indian Bank, T M Bhasin quits to take up new responsibility as Vigilance Commissioner in Central Vigilance Commission.
Mahesh Kumar Jain, Executive Director, is given the additional charge of the Managing Director & CEO of the Bank for a period of three months or till a regular MD & CEO is appointed or until further notice.
Under Mr. Bhasin’s leadership, Indian Bank has emerged as a better performing public sector bank (PSB) in south India.
He said,” Indian Bank is Number one in CAR (capital adequacy ratio). NPA levels are among the best from the bottom of the table. Indian Bank is also among the best in terms of return on assets and return on equity.”
Mr. Bhasin became the Chairman & Managing Director of Indian Bank on April 1, 2010. He is a M.Sc gold medallist and has done MBA (Finance) from University of Delhi. Also, he is a Harvard alumnus having done an Advanced Management Programme at JFK School of Government, Harvard. He has also an LLB from Campus Law Centre, University of Delhi. He was also the Delhi University topper in Criminology and Forensic Science programme.