Last Updated on 07/08/2020
BOD

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) Act 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 06 Directors on the Board of the Bank. Brief Particulars of each of the directors are placed below.

 

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Shri Partha Pratim Sengupta

MD & CEO

DOB: 07.12.1962

Qualification: B. Sc Physics (Hons.), B.Ed, CAIIB

Shri. Partha Pratim Sengupta, Deputy Managing Director & Chief Credit Officer, State Bank of India has assumed charge as Managing Director & Chief Executive Officer in Indian Overseas Bank on 24th July 2020.

Shri. Partha Pratim Sengupta, a career banker, joined State Bank of India as a Probationary Officer in February 1987. Prior to his elevation to the post of Deputy Managing Director in SBI he was the Chief General Manager of State Bank of India, Kolkata Circle. Prior to this, he was General Manager at State bank of India, Mid Corporate Regional Office, Pune.

As DMD & CCO of SBI, he was responsible in positioning the Bank’s credit portfolio on a firm sustainable footing with standards matching global best practices. During his more than 3 decades of experience with State Bank of India he has served in various capacities in different geographies and has hands-on experience both in Retail Banking and Corporate Banking.

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Shri Ajay Kumar Srivastava

Executive Director

DOB: 15.10.1967

Qualification: B.Sc. (Hons), CAIIB Part I

Shri Ajay Kumar Srivastava has assumed Office as Executive Director of Indian Overseas Bank on 9th October 2017. Prior to this he was working as Field General Manager- Delhi with Allahabad Bank.

He started his banking career as Probationary Officer in 1991with Allahabad Bank and during his banking career spanning over 27 years, he has worked in various capacities in different parts of the country which include Field as well as Administrative Offices. He is an astute and hardcore banker with vast field level experience and has the distinction of having successfully led the largest and most critical areas of Uttar Pradesh, Gujarat and Delhi. He has been instrumental in bringing positive structural and cultural changes and took many new initiatives while heading different verticals in the field. Mr Srivastava has undergone some very prestigious training programmes both in India and abroad.

In Indian Overseas Bank his portfolio includes Agriculture & Rural Initiatives, Retail Banking, Credit Support Services, Credit Monitoring, Treasury-Domestic & Foreign, Operations, International Banking, Planning, Board Services, Law, Compliance, Inspection, Credit Card and Official Language Department. Apart from this, Mumbai, Kolkata & Hyderabad Zones have been allotted to him for monitoring their growth, control and overall management.

 

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Ms. Annie George Mathew

Additional Secretary (Pers), Department of Expenditure

Ministry of Finance, Government of India

Nominated by GOI on: 22.07.2016 and will continue until further orders.

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Shri Deepak Kumar

DOB: 01.08.1964

Qualification: MA (Economics), Ph. D,

Post Graduate Diploma in International Marketing, CAIIB

Nominated by GOI: 18.09.2019

Date of Expiry of the Current term: Until Further Orders

Shri Deepak Kumar, joined Reserve Bank of India in September 1990 and currently posted as Chief General Manager, Department of Information Technology, RBI, Mumbai. He is a Post Graduate in Economics and has obtained Ph.D on the subject ‘Impact of Computerisation on Banking Industry during Nineties- an Evaluation’. He has done Post Graduate Diploma in International Marketing from Delhi School of Economics. In recent times, he had obtained online Certificates on Big Data, Hadoop and Business Analytics.

Shri Deepak Kumar has worked in various work areas of RBI which includes Payment System, Currency distribution and management, Planning, Banking operations, Human Resource Management, Commercial bank supervision, Foreign Exchange regulation and supervision, Information Technology, etc.

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Shri Sanjay Rungta

Shareholder Director

DOB: 26.01.1966

Qualification: B.Com, F.C.A.

Re-elected as Shareholder Director with effect from 08.12.2017

Term Ends on: 07.12.2020

Shri Sanjay Rungta from Mumbai has done B.Com from Rajasthan University and is a practicing Chartered Accountant with more than 27 years of experience dealing with Income Tax, Companies Act, Audit, Finance & Management consultancy matters and has been exclusively working for the Public Sector Banks. He is a senior managing partner of M/s. S.P. Rungta & Associates, Chartered Accountants, Mumbai since the last 27 years. He is also a partner in DMKH Insolvency Resolution Services LLP.

In the last 27 years he has conducted various kinds of audits of the Banks’ branches like regular Internal inspection, concurrent audit, statutory audit and having conducted stock audit, valuation of primary securities, due diligence and monitoring of large corporate domestic borrowers on behalf of Public Sector Banks. He was also appointed as concurrent auditor of large borrowers under the CDR mechanism by the Monitoring Institution under CDR cell of RBI.

Post held at Present/Past

 

  • Appointed as Coordinator for CA exams by ICAI in 2009
  • Member of International Taxation Committee of WIRC (ICAI) during 2015-16
  • Registered Insolvency Professional (IP) with IBBI since January 2017

 

Shri Rungta is in the panel of “Peer Reviewers” nominated by the ICAI and has also conducted peer reviews of various CA firms in accordance with the ICAI regulations in the last few years. Apart from vast experience of audits of banking industry, he has also handled various types of audit and other assignments of many private and public sector corporations, insurance companies, central cooperative societies, Government companies.

He has widely travelled in India and abroad. His special interests are Banking, Finance, Cooperative sector & Social work etc.

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Shri Navin Prakash Sinha

Shareholder Director

DOB: 15.10.1962

Qualification: BA (Hons) - Economics

Licenciate of Insurance Institute of India

Elected as Shareholder Director with effect from 08.12.2017

Term ends on: 07.12.2020

Shri Navin Prakash Sinha has vast experience in the field of Financial Product Marketing, Human Resource Management and Labour laws especially related to Pension, Gratuity, and other Employees’ benefits.

Financial Product Marketing:

  • As a Sr. Divisional Manager (In-Charge) of Hazaribagh, Patna and Hyderabad Division, he was responsible for monitoring and controlling both marketing and servicing activities of all branches under these Divisions for achieving targeted performance.
  • As a Regional Manager (Marketing), he was responsible for developing and implementing Marketing strategies of the Zone, Supervising marketing activities under Zone.
  • As a Chief (P&GS), he was involved in investment of Group portfolio which included daily monitoring of Financial Markets.

 

Human Resource Management:

  • As a Regional Manager (P&IR), he was responsible for human resource management of the zone involving promotion and placement of officers.
  • As an additional Director and Director ZTC, Gurgaon, he was responsible for training of all officers & employees of Northern zone and develop it as a learning centre of excellence.

 

Labour laws especially related to Pension ,Gratuity, and other employees’ benefits:

i. As a Chief (P&GS), he was responsible for marketing and administration of Pension & Group Insurance vertical from Corporate Office.

Post held in LIC at Present/Past

  • Zonal Manager (Zonal Office), Kanpur from 25th April 2018 to till Date
  • Director (Zonal Training Centre), Gurgaon from October, 2017 to 24th April 2018
  • Chief (Pension & Group Superannuation Schemes), Central Office, Mumbai from April, 2015 to April,2017
  • Regional Manager (Marketing), South Central Zone, Hyderabad from April, 2012 to April, 2015
  • Regional Manager(Personnel & Industrial Relations), Southern Zone, Chennai from April, 2011 to April, 2012
  • National Relationship Manager, Chennai from July, 2010 to April, 2011
  • Chief Manager, Mauritius from August, 2007 to July, 2010
  • Sr. Divisional Manager (In-charge) of Hyderabad from May, 2006 to August, 2007
  • Sr. Divisional Manager (In-charge) of Patna Division from May, 2004 to May, 2006
  • Sr. Divisional Manager (In-charge) of Hazaribagh Division from May, 2002 to May, 2004.