FSIB Recommends Ashok Chandra for Managing Director Position at Punjab National Bank

Ashok Chandra has been recommended by the Financial Services Institutions Bureau (FSIB) for the role of Managing Director and CEO of Punjab National Bank (PNB). Currently, he serves as the Executive Director at Canara Bank. Chandra is set to succeed Atul Kumar Goel, who will retire in December. The FSIB, responsible for selecting directors for state-owned banks and financial institutions, made this announcement on Monday.

Representative image

Selection Process and Criteria

The FSIB conducted interviews with 16 candidates for the PNB MD and CEO position. In a statement, FSIB noted that Chandra was chosen based on his performance during the interview, his extensive experience, and other relevant criteria. The final approval of this recommendation will be made by the Appointments Committee of the Cabinet, led by Prime Minister Narendra Modi.

FSIB's Leadership and Members

The FSIB is chaired by Bhanu Pratap Sharma, a former secretary of the Department of Personnel and Training (DoPT). The bureau also includes Animesh Chauhan, former chairman and MD of Oriental Bank of Commerce; Deepak Singhal, a former executive director at RBI; and Shailendra Bhandari, who previously served as MD of ING Vysya Bank.

Chandra began his banking career in 1991 as a Probationary Officer with Corporation Bank. He holds a Master's degree in Economics and is a Certified Associate of the Indian Institute of Bankers. His extensive background in banking has prepared him for this significant role at PNB.

The recommendation by FSIB highlights Chandra's qualifications and readiness to lead PNB. The decision now awaits confirmation from the Appointments Committee of the Cabinet.