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 08 Directors on the Board of the Bank. Brief Particulars of each of the directors are placed below.
(Managing Director & 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.
(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 1991 with 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.
DOB: 22.05.1964
Qualification: B.Com, M. Com, MBA CAIIB
Ms. S Srimathy, has assumed charge as Executive Director of Indian Overseas Bank on 10.03.2021 from Canara Bank where she was Chief General Manager. She had been deputed to NABARD as Chief Vigilance Officer prior to taking over the present post in Indian Overseas Bank.
Ms. S Srimathy joined Canara Bank as Probationary Officer in November 1986. She is having 34+ years of Banking Experience in all categories of branches from Rural to Metro and is well exposed to various verticals like Branch Operations, Mid & Large Credits, Human Resources, Risk Management etc.
Ms. S Srimathy had worked across the country and headed the Prime Corporate Branch at Cuffe Parade, Mumbai for over three years and headed the Corporate Credit Wing & International Operations at Head Office of Canara Bank before becoming Head of Chennai Circle.
Ms. S Srimathy was deputed to NABARD as Chief Vigilance Officer in July, 2018. During the period Ms. S Srimathy held additional charge as CVO of New India Assurance Company Limited, State Bank of India and Bank of Baroda for varying periods.
(Govt. Nominee Director)
Ms. Annie George Mathew is currently working as Special Secretary to Govt. of India in Ministry of Finance. She is the Government nominee Director in the Board of Indian Overseas Bank since 22.07.2016. She is also Part-time Member in Pension Fund Regulatory and Development Authority (PFRDA) since 12.12.2014.
She belongs to the 1988 batch of Indian Audit and Accounts Service (IA&AS). She has had a wide and varied career within India and outside India. Her earlier postings have taken her across the country to different states like Himachal Pradesh, Orissa, Andhra Pradesh, Uttar Pradesh, Delhi, Madhya Pradesh, etc. She has a varied experience in both Accounting and Auditing function of the State and Union Government. In Audit, she has worked in Commercial, Civil, Receipt and Railways Audit. She has also led audit teams working with international and multi-lateral organizations like the United Nations, UNHCR in various countries of Europe, Africa and Asia.
She is a graduate from Miranda House and post graduate from Delhi University and thereafter joined the civil services.
(RBI Nominee Director)
Nominated by GOI: 25.02.2022
Date of Expiry of the Current term: Until Further Orders
Shri Vivek Aggarwal is currently Regional Director for New Delhi, Reserve Bank of India. Before this assignment, he was Regional Director, Madhya Pradesh.
He joined RBI in 1989 as a direct recruit officer and was posted in Issue Department at Kanpur for 5 years. Thereafter, he was posted to Mumbai where he worked in Department of External Investments & Operations, CO for 7 years as Forex Dealer and later as Portfolio Manager wherein he was part of the team managing the country’s forex reserves. He then went on deputation to Andhra Bank as DGM and was in-charge of the International Banking Division wherein he headed the Forex Operations of Andhra Bank.
He has worked in Foreign Exchange Department, Central Office, RBI (3 years); Department of Banking Supervision, Chennai (4 years); and in Internal Debt Management Department, CO (2 years).
From January 2013 to May 2016 he worked as Executive Assistant to the Governor. He has worked closely with 2 Governors namely, Dr.D.Subbarao and Dr.Raghuram G.Rajan.
From May 2016 to March 2019 he was CGM, HRMD, CO.
He has served as RBI Nominee Director in the Board of Punjab National Bank for 2 ½ years.
He is a Golden Jubilee Scholar of RBI and went to the Birmingham Business School, Birmingham, UK to study M.Sc. in Economic Policy and International Business.
Other Educational Qualifications: BA (Hons) Economics from Shriram College of Commerce, Delhi University; M.A.Economics from Delhi School of Economics, Delhi University; MBA (Banking & Finance); CAIIB; Certificate in Treasury & Risk Management; PG Diploma in Personal Management and PG Diploma in Financial Management.
(Director)
DOB: 15.10.1962
Qualification: M. Com Degree in Finance
Nominated by GOI: 21.12.2021
Shri Suresh Kumar Rungta has been nominated as Director of Indian Overseas Bank on 21st December 2021. He has actively participated in various social activities in the State of Bihar as Treasurer. He has also actively participated as member of Advisory Committee of Bihar VAT (since 2005). Further he has authored Several books.
He has regularly contributed in leading hindi dailies like AAJ, Dainik Jagran, Hindustan, Prabhat Khabar and other on Economic, Rural Development and Agricultural related issues of Bihar.
DOB: 14.04.1958
Qualification: M. Com F.C.A
Shri B.Chandra Reddy has been Nominated as Director of Indian Overseas Bank on 21st December 2021. He has vast experience in Auditing. Prior to this he was Statutory Bank Auditor in Union Bank of India during 2020-2021. Further he also worked in various capacities in different Private Sector Companies.
DOB: 31.07.1976
Qualification: B. Com, EPGDIB (IIFT), LLB, LLM (Real Estate)
Shri Deepak Sharma has been nominated as Director of Indian Overseas Bank on 21st December 2021. He is working as Head Legal & Liaison for Adani Realty. He has vast experience in Real Estate Industry Exposure. Further he has relevant Experience in Unique Combination of Finance , Legal & Compliance, Leadership Skills, Project Management and Operations. Further he also worked in various capacities in different Private Sector Companies.