BOARD OF DIRECTORS
CONSTITUTION:
The Constitution of the Board of the Bank is governed by “The Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970, formulated by the Central Government, after consultation with the Reserve Bank of India, in exercise of the powers conferred by section 9 of “The Banking Companies (Acquisition and Transfer of Undertakings) Ac, t 1970”.
COMPOSITION:
The Composition of the Board of Directors of a Bank is governed by “The Nationalised Banks (Management and Miscellaneous Provisions) Scheme 1970” read with “The Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act 2006” and amendment to the vide Extraordinary Gazette Notification dated 19.02.2007 of the Central Government.
CONTRIBUTION:
In terms of The Banking Companies (Acquisition and Transfer of Undertakings Act 1970, the General Superintendence, Direction and Management of the affairs and business of the Bank vests in the Board of Directors which is entitled to exercise all such powers and do all such acts and things as the Bank is authorized to exercise and do.
STRENGTH OF THE BOARD :
Presently, there are 11 Directors on the Board of the Bank. Brief Particulars of each of the directors are placed below:
Shri S.A. Bhat,
Chairman and Managing Director
DOB: 20.10.1950
Qualification: B.Sc (Hons) CAIIB Part I
Appointed on: 04.06.2007
Term ends on: 31.10.2010
(Date of Superannuation)
AT BANK OF INDIA:
Shri S A Bhat joined Bank of India as a Probationary Officer in 1972 and was with them till 1st February 2006.
In Bank Of India, he started as an officer and Branch Manager of rural and semi urban branches. He was Chief Dealer at Mumbai Overseas Branch, of Bank of India. He had a two-year stint at Bank of India’s London Branch. He was with that Bank’s New York Office for four years as Vice President and Comptroller. He has headed the Bank of India’s Chennai Zone as Zonal Manager. As General Manager International Banking, he was in charge of the entire International operations of Bank of India. Later as General Manager, Risk Management, he was responsible for the implementation of Risk Management techniques and Basel II norms.
While at Bank of India, he was also nominee director for STCI, IL & FS and Indo Zambia Bank.
AT UCO BANK AS EXECUTIVE DIRECTOR
Shri Bhat was appointed by the GOI as Executive Director of UCO Bank on 2nd February 2006 and held that position till his present assignment as CMD of Indian Overseas Bank.
Shri Bhat has made many contributions to the Banking Industry, as a member of several committees. He was on the Technical Advisory Committee, Steering Group for Basel II, Committee on Credit Advisory System for Exporters, and Working Group for revision of ALM, all of which were constituted by Reserve Bank of India. He was also on the Indian Banks’ Association’s Committee for drawing Road Map for implementation of Basel II.
With an overall exposure in Banking, his strengths lie in International Banking, Credit, Rural Finance and Risk Management.
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Shri Y.L. Madan
Executive Director
DOB : 24.08.1950
Qualification : M.Sc., MBA, CAIIB
Appointed on: 16.05.2008
Term ends on: 31.08.2010
(Date of Superannuation)
AT CANARA BANK
Shri Y L Madan joined Canara Bank in 1973 as Officer trainee and has 35 years of experience. He served mostly in northern areas of Punjab, Haryana, Chandigarh, Bihar, Delhi and had a posting at Overseas Exchange Company in Doha, Quatar, managed by Canara Bank, He had one year stint as Faculty in Canara Bank Training Centre, Mumbai. He was the General Manager from October 2003 in Canara Bank before his appointment in IOB as its Executive Director.
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Smt.Nupur Mitra
Executive Director
DOB: 08.12.1952
Qualifications: B.Sc., LLB
Appointed on: 07.12.2009
Term ends on: 31.12.2012
(Date of Superannuation)
AT BANK OF INDIA
Smt.Nupur Mitra started her career with Bank of India in Lucknow as Direct Recruit Officer in the year 1975. During her service spanning over 34 years, she served the Bank of India in various capacities at the branches and its Zonal Offices.
She moved over to head London Branch on overseas assignment in mid 2001. Her overseas tenure in London and thereafter as Chief Executive of Europe operations was the most satisfying part of her career in terms of business and contribution.
After an exemplary overseas stint, back in the Motherland, she headed the Mumbai and Chandigarh Zones of the Bank. As General Manager at the Corporate Office she was in charge of Credit, SME, Retail Banking (Deposit & Advances), Card Products, Public Relations, Depository Services, etc.
Smt. Nupur Mitra was the General Manager of Bank of India before her appointment in IOB as its Executive Director.
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Dr. Vinita Kumar
Government Nominee Director
DOB : 25.12.1954
Qualifications : MA (Economics) Ph. D., Indian Economic Service (1977)
Nominated by GOI on: 10.06.2008 and will continue until further orders
Dr Vinita Kumar, is presently the Economic Adviser, Department of Financial Services, Ministry of Finance, New Delhi.
She has published books on the following topics.
Economic Growth and Rural Poverty –The Indian Experience (1960-1995)
Learning to Share : Experience and Reflections on Participatory Rural Appraisal and Community participation.
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Smt. Chitra Chandramouliswaran
RBI Nominee Director
DOB : 26.07.1944
Qualification: M.Sc., CAIIB
Nominated by GOI on: 27.02.2007 and will continue until further orders.
Smt Chitra Chandramouliswaran joined RBI in 1967 and has worked Industrial Export and Credit Department, Banking Operations & Development and Foreign Exchange (Exchange Control) Departments and RBI’s Central Office in Mumbai. She has also held senior assignments in RBI’s Regional Offices in Delhi and Bangalore. She retired as Chief General Manager of Reserve Bank of India in 2004.
She has been nominated by GOI as RBI nominee on the Board of the Bank with effect from 27.02.2007.
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Shri N. Sridaran
Workmen Employee Director
DOB : 10.12.1950
Qualification : SSLC
Nominated by GOI on: 20.04.2007
Term ends on : 19.04.2010 and thereafter until his successor is duly
nominated or till he ceases to be a workmen employee of IOB or until further orders, whichever is earlier.
Shri N Sridaran joined the Bank on 02.05.1972 and is having more than 36 years of banking experience in IOB. He is presently a Special Cadre Assistant attached to Cathedral Branch of the Bank.
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Shri B. V. Appa Rao
Part-Time Non-Official Director
DOB : 06.06.1950
Qualifications : B.Com., F.C. A.
Nominated by GOI on : 29.08.2008
Term ends on : 28.08.2011
A qualified Chartered Accountant in 1980, Shri Appa Rao, immediately joined Andhra Bank as Officer and served for 6 years. Leaving Andhra Bank, he joined M/s The Andhra Sugars Limited of Andhra Pradesh in the Senior Management and served for 7 years.
He is presently a Senior Partner in M/s B.V. Rao Associates, Chartered Accountants, Guntur started in the year 1994. During these 14 years of service he was Statutory Branch auditor for Union Bank of India, State Bank of India and Andhra Bank. He was Concurrent Auditor for various branches of Andhra Bank and Union Bank of India at Guntur. He was also Statutory Auditor for the Divisions of United Insurance company Limited appointed by Comptroller and Auditor General of India.
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Shri Sooraj Khatri
Part-Time Non-Official Director – Second Time
DOB : 06.08.1955
Qualifications : B.Sc., LL.B., Dip. In Labour Law
Nominated by GOI on: 26.10.009
Term ends on : 25.10.2012 or until further orders, whichever is earlier
Shri Sooraj Khatri is practicing legal profession as an Advocate in Rajasthan High Court. He is also a journalist, Editor and Publisher.
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Shri A.K. Bhargava
Shareholder Director
DOB : 10.05.1943
Qualification : B. Com., LL. B., CAIIB
Elected by Shareholders other than GOI on: 25.11.2008
Term ends on: 07.12.2011
Shri A K Bhargava is a retired General Manager of Punjab National Bank. He is a professional Banker with 40 years of experience. He is at present a Management and Financial Consultant.
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Dr. Chiranjib Sen
Shareholder Director
DOB : 29.09.1946
Qualification : MA (Econ.) Ph D
Elected by Shareholders other than GOI on: 25.11.2008
Term ends on: 07.12.2011
Dr Chiranjib Sen is a Professor of Economics in the Indian Institute of Management, Bangalore and a visiting Professor of about 13 universities in India and abroad. He has edited many books. Number of his articles on various topics of varied interest have been published in Indian and Foreign journals.
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Shri A Vellayan
Shareholder Director
DOB : 09.01.1953
Qualification : B.Com., MBA
Elected by Shareholders other than GOI on: 08.12.2008
Term ends on : 07.12.2011
Shri A Vellayan, aged 56 years, hailing from Chennai, is a Management graduate from the University of Warwick Business School in UK and a diploma holder in Industrial Administration from the University of Aston, Birmingham, UK. He is the Vice Chairman and Director – Strategy of the Murugappa Group, a business conglomerate headquartered in Chennai. Shri Vellayan is the non-executive Chairman of two Public Limited Companies viz. EID Parry (India) Limited and Coromandel Fertilisers Limited and is also on the Board of several reputed Public Limited companies. He is the Vice President for Southern Indian Chamber of Commerce & Industry and a member of the Executive Committee of FICCI, Delhi. Shri Vellayan has been elected by the shareholders (other than the Central Government) to represent their interest in the Board.
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