The new chiefs of four public sector banks took charge on Wednesday, including Canara Bank Chairman and Managing Director (CMD) S. Raman and UCO Bank chief Arun Kaul.
While the term of the new CMD of Canara Bank comes to an end in September, 2012, the UCO Bank chief will retire after five years.
In addition, Central Bank of India Executive Director Ramnath Pradeep assumed office as the new CMD of Mangalore-based Corporation Bank, the bank informed the Bombay Stock Exchange.
At the same time, Executive Director R. Ramachandran of Syndicate Bank has assumed charge as CMD of Hyderabad-based Andhra Bank. As per the notification issued on Wednesday, the government has promoted eight executive directors as CMDs of public sector banks.
The remaining four will assume charge as and when a vacancy is created.
At the same time, as many as 12 general managers have also been promoted as executive directors. Among them, A. K. Bansal, General Manager of Union Bank of India, has been promoted as Executive Director of Indian Overseas Bank.
In addition, N. Sheshadri, R. K. Dubey, Ravi Chatterjee, Archana Bhargava, Rakesh Sethi and Rajiv Rishi have been appointed as executive directors of various banks.