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The Financial Services Institutions Bureau (FSIB) has selected Binod Kumar, the Executive Director of Punjab National Bank (PNB), to be the new Managing Director and Chief Executive Officer (MD & CEO) of Indian Bank. This decision comes after a rigorous selection process involving 15 candidates. Kumar is set to replace S L Jain, who will retire next month. The FSIB’s selection was made after an initial candidate, Asheesh Pandey, raised concerns from the Reserve Bank of India (RBI), leading to a fresh interview round. The final approval for Kumar’s appointment will be made by the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi. The FSIB is responsible for selecting top leadership for public sector banks, and its other members include Animesh Chauhan, Deepak Singhal, and Shailendra Bhandari. The selection process was based on candidates’ experience, performance during interviews, and alignment with selection parameters.
Source: https://currentaffairs.adda247.com/fsib-recommends-binod-kumar-as-md-ceo-of-indian-bank/