About Us

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 thevide 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 12 Directors on the Board of the Bank. Brief Particulars of each of the directors are placed below:

Shri. M.Narendra
Chairman and Managing Director

DOB : 12.07.1954
Educational Qualification : B.Com., LLB

Shri M Narendra took charge as Chairman and Managing Director of Indian Overseas Bank on 1st November 2010.

Shri M Narendra joined Corporation Bank as an officer trainee in 1975 and was in this Bank till 5th November 2008. He was appointed by Government of India as Executive Director, Bank of India, on 6th November 2008 and held this position, till his present assignment at Indian Overseas Bank.

Shri Narendra has traveled widely both within the country and outside. He has undergone various training programmes including workshops/seminars at BTC, IIM-Ahmedabad and Bangalore, NIBM and Australian Institute of Banking & Finance.

Shri Narendra secured various Corporate Awards instituted by Corporation Bank such as Chairman's Club Membership recipient for 8 consecutive years from 1984-85 to 1990-91, SoGian Award and Regional Leadership Award.

Known for his conceptual clarity, communication skills and ability to build result oriented teams Shri Narendra has been one of the key members of the Teams to implement Organisational Transformation Projects in both Corporation Bank and Bank of India.

In his capacity as Executive Director of Bank of India, he was the nominee director on the Board of Indo Zambia Bank Limited, Lusaka, Zambia, a joint venture Commercial Bank between 3 Indian Public Sector Banks and Government of Zambia.

He is a member of (i) Technical Advisory Committee on Money, Foreign Exchange & Government Securities Market constituted by Reserve Bank of India and (ii) Standing Committee on Risk Management & Basel II Implementation constituted by Indian Banks Association. 

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Shri A.K. Bansal
Executive Director

DOB:22.05.1953
Qualifications: Post Graduate in Agriculture, CAIIB - Part I

Shri A.K. Bansalhas taken charge as Executive Director of Indian Overseas Bank on 1st September 2010.

Born on 22nd May 1953, Shri A. K. Bansal is a Post Graduate in Agriculture from the renowned G B Pant Agriculture University, Pant Nagar, Nainital and recipient of ICAR Junior Research Scholarship. He joined Union Bank of India as Agricultural Field Officer at the age of 23 years in the year 1976. He was awarded Super Achiever and Star Performer status by the Bank in the year 1994 for his outstanding performance at the first Specialized SSI Branch of the bank at Ahmedabad.

Shri Bansal was also conferred with the Chairman Club Membership by the Chairman & Managing Director of the Bank as recognition of his outstanding performance in the very first year of implementation of the scheme.

While heading the largest branch of the bank i.e. Mumbai Samachar Marg Branch at Mumbai, considered to be a jewel in the crown amongst all the branches of the bank, he took the branch to new heights reaching a total business mix of Rs.15,000 crores within a period of 3 years – an increase of 400% from the time of taking charge. He was also the driving force for setting up the Capital Market Cell at Mumbai and establishing the Bank's first museum at M S M branch in Mumbai.

On his promotion as General Manager on 1st January 2008, he was entrusted with one of the most challenging and coveted assignments of the Bank i.e. Field General Manager, North Zone, which not only had the unique distinction of total business of more than Rs. 50000 crores but also a vast network of 297 branches and 7 Regional Offices spread over 6 states including NCR Delhi wherein business of the Zone doubled in less than 2 years time.

With the bank's transformation to three tier structure Shri Bansal was posted as General Manager at Support Services Department, Central Office overseeing opening of new branches, maintenance division and handling the premises matters of the entire Bank.

Shri Bansal is a Committee Member in the Apex Advisory Committee Meeting of SIDBI Innovation and Incubation Centre (SIIC) in IIT Kanpur.

He is happily married with two sons who are settled in the USA.

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Shri A.D.M.Chavali
Executive Director

D.O.B 09.10.1954
Educational Qualification: M.Sc

Mr. A.D.M.Chavali has assumed charge as Executive Director of Indian Overseas Bank on 28th December 2011. Prior to this assignment he was General Manager of Bank of Baroda.

He is a post graduate in pure mathematics. He started his career with Bank of Baroda in Chennai as a Direct Recruit Officer in the year 1977. From then on he has served the Bank in various capacities at branches including Industrial Finance Branch and Regional Offices, located across Chennai, Mumbai,. Kolkatta, Andhra Pradesh and Gujarat. He was also the Chief Dealer in Fixed Income, Equity and Non-SLR Securities and has headed the Front Office, Treasury. He has also served as Managing Director of BOB Asset Management Co. He has headed the Corporate Financial Services branches at Ahmedabad and Mumbai.

Prior to joining Indian Overseas Bank, he as General Manager had headed the Treasury & Resource Management of Bank of Baroda. He has also served as Regional Head of Kolkata Metro Region.

He has served as Director on Boards of India Ideas.com.Ltd, Central Depository Services Limited (CDSL), Clearing Corporation of India Ltd. (CCIL) and Central Insurance Repository Ltd. (CIRL) and as a Trustee Director of Baroda Pioneer Asset Management Company Ltd.

He was a member in RBI Committee for implementing Negotiated Dealings System and FIMMDA Valuation Committee. Also, he was a member of the Committee on Credit and Operational Risks Data Exchange (CORDEX) set up by IBA.

He has a rich experience in Corporate Finance Banking for over three decades particularly in the areas of Treasury operations, Risk Management, Asset Management, Investments and Industrial Finance.

Mr.Chavali is endowed with qualities of good leadership and bestowed with keen observation constantly looking for merit in all walks of life, be it official or personal. His hallmark is simplicity, calmness and unassuming nature.

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D.O.B : 22.10.1958

Qualifications : F.C. A.

Nominated by GOI on : 01.11.2011

Term ends on:  31.10.2014 or until further orders, whichever is earlier

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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
Nominatedby 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 Vellayan
Shareholder Director

DOB : 09.01.1953
Qualification :B.Com., MBA (University of Warwik Business School,U.K)
Deemed to be reelected as Shareholder Director other than GOI with effect from 08.12.2011
Term ends on: 07.12.2014

Shri A Vellayan, 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 Executive Chairman of the Murugappa Group, a business conglomerate headquartered in Chennai.

Shri Vellayan is the non-executive Chairman of three Public Limited Companies viz. EID Parry (India) Limited , Coromandel International Limited and The Fertiliser Association Of India. He 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.


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Shri.Ajit Vasant Sardesai
Share holder Director

DOB : 04.09.1945
Qualification : M.Sc (Physics) Dip in IIT New Delhi
Deemed to be elected as Shareholder Director other than GOI with effect from 08.12.2011
Term ends on: 07.12.2014

Shri Ajit Vasant Sardesai has worked in the Reserve Bank of India for over 3 decades. He was the Chief General Manager and later Executive Director in charge of Rural Credit and Planning Department, RBI. He has also served as RBI Nominee Director on the Boards of large Public Sector Banks.

He was also on the Governing Council of NIBM, Institute of Banking Personnel Selection, Institute for Development Research in Banking Technology and Bankers Training College and College of Agricultural Banking, a premier training college of RBI.

He retired from RBI in September 2005. After retirement, he continued to be associated with the Vaidyanathan Committee and was a member of the Advisory Committee on Frauds in Banks and Financial Sector constituted by the GOI/CVC.

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Shri.S.Sadagopan
Share holder Director

DOB : 02.04.1951
Qualification : B.E ( Mechanical), Ph.D in IT from Purdue University
Deemed to be elected as Shareholder Director other than GOI with effect from 08.12.2011
Term ends on: 07.12.2014

Professor. S Sadagopan obtained his Ph.D in IT from Purdue University. He taught for more than 20 years at IIT Kanpur and IIM Bangalore. He is working as Founder Director since June 1999 in IIT, Bangalore. Within five years, IIT Bangalore was the first public-private partnership institute to get the deemed university status. It is one of the best academic campus in the county and was personally conceptualized by Dr. S Sadagopan.

Professor Sadagopan has played a leading role in major IT deployment in the country and this includes SAP implementation at ONGC, IOC, NTPC and BHEL, IT advisor to Syndicate Bank, Canara Bank and Indus Ind Bank. In addition to several private sector corporations, he was very much involved with the Core Banking Solution that was rolled out in Bank of India.

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