Government Extends Tenure of Bank of India and Bank of Baroda Managing Directors
Govt extends tenure of Bank of India, Bank of Baroda MDs by 3 years
The Economic Times
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The Indian government has extended the tenure of Rajneesh Karnatak, MD and CEO of Bank of India, and Debadatta Chand, MD and CEO of Bank of Baroda, by three years. Karnatak's term now extends to April 29, 2026, while Chand's will last until July 1, 2026.
- 01Rajneesh Karnatak's tenure at Bank of India extended to April 29, 2026.
- 02Debadatta Chand's tenure at Bank of Baroda extended to July 1, 2026.
- 03The decision was made by the Appointment Committee of the Cabinet.
- 04Ashwani Kumar's extension at UCO Bank is still under review.
- 05Ashutosh Choudhary's term at Indian Bank also extended for three years.
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The Indian government has officially extended the tenures of Rajneesh Karnatak and Debadatta Chand as Managing Directors of Bank of India and Bank of Baroda, respectively. Karnatak, who has been serving since 2023, will now continue until April 29, 2026. Similarly, Chand's term has been extended to July 1, 2026. These decisions were approved by the Appointment Committee of the Cabinet, chaired by Prime Minister Narendra Modi. Meanwhile, the government has yet to decide on the extension for Ashwani Kumar, MD and CEO of UCO Bank, whose term ends on June 1, 2026. Additionally, Ashutosh Choudhary's role as executive director of Indian Bank has also been extended for another three years.
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The extensions may lead to stability in leadership at these major banks, which could positively influence their strategic direction and operational performance.
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