About Us

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

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Shri. Atul Agarwal
Executive Director
 
D.O.B : 12.09.1956
Educational Qualification: B.Com, CAIIB

Shri.Atul Agarwal has assumed office of the Executive Director of Indian Overseas Bank on 27.9.2013. Prior to the assignment he was General Manager of Central Bank of India.

He started his Banking career with Union Bank of India as Probationary Officer in 1978 at Ghazipur(UP) From then he served in Union Bank of India up to 2007, acquired functional, accounting and IT Knowledge at various levels of operation and management, serving in four states.

Joined Central Bank of India in June 2007 as Asst. General Manager and elevated to Deputy General Manager in December 2008 and to General Manager in February 2011.

24 years of experience in commercial banking including sanction and monitoring of credit facilities to commercial establishments and effective branch management coupled with ideal industrial relations management. Possessing exposure in Small, Medium, Large, Very Large and Extra Large branches Situated at Rural, Semi-Urban, Urban and Metro centres besides assignments at Regional Offices, Zonal Office and Corporate Office.
Served as Zonal Manager of Gujarat Zone in 2008-09 and North East zone during 2009-10.He has also served as functional head at corporate office for Audit & Inspection(From February 2011 to September 2013), General Administration, Rajbhasha with additional responsibility as Chief Liaison officer for SC/ST/PWDs/Ex-servicemen.

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Dr.Alok PandeDr. Alok Pande
Government Nominee Director


DOB : 22.10.1971
Qualifications : BE(Mech),NIT Allahabad, Ph. D(Finance)., IIM Bangalore

Nominated by GOI on:22.07.2011 and will continue until further orders

Dr. Alok Pande is working as a Director in the Department of Financial Services, Ministry of Finance. Presently he is in-charge of Financial Inclusion where in the following key and thrust areas of Government are looked after by him.
  • Work relating to financial inclusion
  • Branch expansion of banks
  • Lead Bank Scheme and Service Area Approach
  • Service Area Approach
  • District and State Level Bankers' Committee(SLBC)
  • Regional imbalances of banking network
  • Matters related to Business Correspondents / Business Facilitators, Mobile Banking etc.
  • Payment of wages to MGNREGA workers through BC model
  • Convergence of UIDAI Aadhaar Number with Financial Inclusion
  • Direct transfer of subsidy on LPG, Kerosene and Fertiliser etc. to the beneficiaries through their bank accounts
  • Strategy and guidelines on Business Correspondents etc.and also Establishment Dept of DFS.
  •  Dr. Pande has more than 20 years of experience in the Government of India where he has worked in different capacities. His area of interest as well as experience has been that of ensuring Financial Inclusion. He did his graduation in Mechanical Engineering from National Institute of Technology, Allahabad in 1992. Dr. Pande joined the Civil Services in 1994. He completed his Doctorate from IIM Bangalore in the area of Corporate Finance in the year 2009. Dr. Pande has several publications to his credit.

The thesis submitted by him has been selected for NSE Award for the best thesis in financial economics for the year 2013

“Book built initial public offering in India: Determinants of pricing, subscription pacterusing investors and impact of regulation” by Meenakshi University Kanchipuram.

 
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Shri.Nirmal Chand
RBI Nominee Director
 
DOB : 31.01.1961
Qualification : MBA, CAIIB
Nominated by GOI on: 13.03.2014 and will continue until further orders.
 
Shri Nirmal Chand is presently the Regional Director of Reserve Bank of India (RBI), Thiruvananthapuram Office having jurisdiction over State of Kerala and Union Territory of Lakshadweep. Prior to this he was an Office-in-charge of Raipur Office of the Reserve Bank of India.
Shri Nirmal Chand joined the Reserve Bank of India in 1986. He is a post graduate from Punjab University, Chandigarh. He is holding an MBA and is also a Certified Associate of the Indian Institute of Bankers (CAIIB).

He has held several positions in RBI's various Offices. He has earlier worked in RBI's Central Office at Mumbai as well as other Regional Offices at Kolkata, Jaipur, New Delhi and Raipur in the departments of Banking Supervision, Non Banking Supervision, Currency Management and Payment Systems.


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Shri. Jai Deo Sharma             

Officer Employee Director
 

DOB : 20.07.1956

Qualification : M.Com., BA., CAIIB, DIM, MBA, LLB

Appointed by GOI on 02.05.2013

  

Term ends on 01.05.2016 or until he ceases to be an Officer of Indian Overseas Bank or until further orders, whichever is earliest.

 

Shri Jai Deo Sharma joined the Bank on 22nd July 1977. He has been in the services of the Bank for the past 35 years. He has also served as Faculty Member in the Training System of the Bank for more than 4 years. Besides, he has been the Associate Faculty at the Indian Institute of Bankers for Monetary Theory. He was an Examiner for Business Management (CAIIB-Part II) for 5 years.

 

He has been associated with Indian Overseas Bank Officers’ Association (IOBOA) as its functionary since 1991 in various capacities. At present he is the President of IOBOA and Joint General Secretary of All India Bank Officers’ Confederation (AIBOC). He is pursuing his research (PhD) on Post Globalization HR Practices in Public Sector Banks in India as part time scholar at University of Madras, Chennai. He has published many Research Papers and Articles on Contemporary Topics in prestigious Newspapers and Journals. He is also Associate Editor of “IOBOA-The Crusader”, the House Magazine of IOBOA. He has delivered lectures at Administrative Staff College of India - Hyderabad, Centre for Organisation Development - Hyderabad, National Institute of Banking Studies & Corporate Management – NOIDA. He has been the Chief Guest/ Guest of Honour in various programmes held at ICWAI-SIRC-Chennai, University of Madras (Dept. of Commerce), AMET University – Chennai etc.

 

This is his second term in the Bank’s Board as Officer Employee Director. His earlier term was during 2006-09.

 

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Shri.Chinnaiah
Part Time Non Official director
 
D.O.B : 01.06.1958
Qualification : B.A., L.L.B.,
Nominated by GOI of India on : 13.11.2013
Term ends on : 12.11.2016 or until further orders, whichever is earlier

Shri.CHINNAIAH, B.A., L.L.B., is an advocate by qualification, but has chosen to be associated with Social Service. He is presently president of Sri Subramanya Swamy Temple Management Committee, Halasuru, Bangalore.

The temple is 800 year old and one of the important temples in Bangalore. The temple has involved various social activities in which Shri.Chinnaiah takes active part in conducting the varius programmes.

He was also President of Jai Bheem SC/ST Consumer Co-operative Society, Ulsoor, Bangalore - 560 0082 The Society is engaged in the helping of downtrodden of the society for the upliftment.

He has served as a member of Central Board of Film Certification, Bangalore.

He was also served as a member of Central Advisory Committee, Dolomite mines and Employees Welfare Fund, New Delhi.
 
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Smt. S Sujatha

 

Part-Time Non-Official Director

 

DOB                             :          15.12.1971

 

Qualification                  :           M.Com. B.A. (Hindi)
 
Nominated by GOI on     :          05.12.2013
 

Term ends on 04.12.2016 or until further orders, whichever is earlier

 

Smt. S Sujatha is a post graduate in Commerce, a graduate in Hindi and has done a certificate course both in Journalism and Women Studies. She was elected as Tiruchi City Corporation Councillor in 2006 and served as Mayor, Tiruchirapalli Corporation from 2009 to 2011. Tiruchi City Corporation was selected as the best corporation in Tamilnadu  and was ranked sixth all over India for the year 2011. She is presently President Ladies Club. She has been involved in social and public activities such as conducting of 12 eye camps among the poor offering quality health care, flood relief and welfare works, providing financial assistance to women, providing financial and administrative assistance to over 1500 self help groups empowering the weaker sections.
 
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Shri A.B.D. Badushas     
Part –time Non-official Director

 



D.O.B. : 19.08.1962
Qualification    : Doctor of Medicine      (Alternative      Medicine)
 
Nominated by GOI on 12.12.2013
 
Term ends on 11.12.2016 or until further orders, whichever is earlier.
 
Shri. A.B.D. Badushas is a Doctor (Alternative Medicine) by profession and has been involved in multifarious activities as a social reformer, political party worker, sportsman and businessman. He is also the grandson of well known freedom fighter Late Shri Bagsahib.

Shri Badushas holds the following important positions:


1. Chief Executive Trustee of the Hazrath Thable Alam Badushas Nathervali Dargah Wakf Trust   which is 1015 years old and is also the biggest Trust of South Asia.
 
2. Director, Commonwealth Science and Technology Academy for Research, Chennai.

3. Chairman, All India Consumer Fair Exhibition Committee, Tamil Nadu.

4. Advisory Board member of the Blind School of Trichy founded by Trichy Rehabilitation Centre, providing free education to numerous blind students.

 
He is the recipient of the Best Community Service Award for the year 2009 given by the Islamiya Ilakkiya Kazhagam, Tamilnadu. He is widely travelled and has visited several countries.

 

He is a good sportsman and has represented Tamil Nadu State in Tennis in 1989.


 

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Shri. R. Sampath Kumar
Workmen Employee Director
 
DOB : 16.02.1958
Qualification : BA,CAIIB-I
 
Appointed by GOI on 24.01.2014
 
Term ends on 23.01.2017 or until he ceases to be a Workmen Employee of Indian Overseas Bank or until further orders, whichever is the earliest.
 
Shri. R Sampath Kumar, joined the Bank in 1981 in the Clerical cadre. He has worked in the Treasury (Foreign) Department at Central Office, Chennai - Nungambakkam branch and is currently Special Assistant with the City Back Office, Chennai.
 
He has been associated with the All India Overseas Bank Employees' Union for more than two decades and held various positions in the Union's Central Unit. He is presently holding the post of Vice President (General) of the Union since July 2010.
 
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Shri. Niranjan Kumar Agarwal 
Shareholder Director 
 
DOB : 22.10.1958
Qualification : B.Com (Hons), F.C.A.
Deemed to be elected as Shareholder Director other than GOI with effect from 08.12.2014
Term ends on: 07.12.2017


Advisor to Large Corporates on finance and taxation matters for the last 30 years.
He has vast experience in the field of capital and money market.   Specialised in Audit, Merger and Amalgamation, Corporate Restructuring and  Project Financing.  Also specialised in Taxation, Tax Planning and Company Law matters.
He is presently member in Executive Board of (1) MCC Chamber of Commerce & Industry and (2) Marwari Relief Society, Kolkata
 
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Shri. Sanjay Rungta
Shareholder Director 

DOB : 26.01.1966
Qualification : B.Com , F.C.A.
 Deemed to be elected as Shareholder Director other than GOI with effect from 08.12.2014
Term ends on: 07.12.2017


Has experience as a Chartered Accountant for more than 25 years
He has conducted variety of audits of Public Sector Banks, Public Sector Undertakings  and Reserve Bank of India.
He has specialised in Financial Planning of Real Estate and Hospitality projects and has done valuation of primary securities, due diligence besides being concurrent auditor of large borrowers under the CDR mechanism.
He has undertaken and spearheaded Special Investigative Audits (SIA) of various Public Limited Companies at the behest of Board for Industrial and Financial Reconstruction (BIFR) and Industrial Development Bank of India (IDBI). 
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