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Rajkiran Rai G Elected as Chairman of IBA Succeeding Rajnish Kumar;Dinesh Kumar Khara, elected as Deputy chairman

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Union Bank of India MD & CEO Rajkiran Rai is new chairman of IBAOn October 16, 2020 At the meeting of the Managing Committee of the Indian Banks’ Association (IBA), Rajkiran Rai G, Managing Director(MD) and Chief Executive Officer (CEO), Union Bank of India(UBI), has been elected as the Chairman of the Association for the term 2020-21. He succeeds Rajnish Kumar.

While, Dinesh Kumar Khara, Chairman, State Bank of India(SBI), was elected as Deputy Chairman of the Association for the year 2020-21. He is one among the 3 deputy chairman namely, CH S S Mallikarjuna Rao, MD & CEO of Punjab National Bank and  Madhav Kalyan, CEO of J.P. Morgan Chase Bank, India.

Note– Earlier, Rajkiran Rai G served as the Deputy Chairman of IBA.

About Rajkiran Rai G

i.He holds the position MD & CEO of UBI since July 1st, 2017. 

ii.He currently holds several post, the following are the few posts held by him:

Chairman of Union Bank of India (U.K.) Limited, Union Asset Management Company and Star Union Dai-Ichi Life Insurance Company Limited.

iii.He also serves as the Director on the Board of Export-Import(Exim) Bank of India and Oriental Insurance Company Limited.

About Dinesh Kumar Khara:

i.He is a Certified Associate of Indian Institute of Bankers(CAIIB).

ii.He joined SBI as a probation officer in 1984 and served in various capacities.

iii.He was appointed as the Chairman of SBI for a period of three years effective from 7th October 2020. 

Recent Related News:

The Appointments Committee of the Cabinet (ACC) approved the appointment of S Krishnan as the Managing Director(MD) and Chief Executive Officer(CEO) of Punjab & Sind Bank. He will replace S Harishankar. ACC has given permission to S Harishankar to voluntarily retire with effect from the date of notification of the acceptance.

About Indian Banks’ Association (IBA):

It was formed on September 26, 1946. It is an association of banks and other entities in the banking ecosystem in India catering to its members.

HeadOffice– Mumbai, Maharashtra
CEO– Sunil Mehta