Binod Kumar, the current Executive Director at Punjab National Bank (PNB), has been recommended by the Financial Services Institutions Bureau (FSIB) as the next Managing Director and CEO of Indian Bank. He is poised to succeed S. L. Jain, who is set to retire next month. Kumar’s recommendation follows a rigorous selection process that shortlisted him from a pool of 15 candidates.
The final approval for his appointment now lies with the Appointments Committee of the Cabinet, chaired by Prime Minister Narendra Modi. Notably, this recommendation comes after a previous nomination by FSIB in April was revised following concerns raised by the Reserve Bank of India (RBI). Kumar’s selection highlights FSIB’s commitment to appointing capable leaders to helm public sector banks.
