Government Appoints Binod Kumar As MD & CEO of Indian Bank

Binod Kumar, formerly the executive director of Punjab National Bank (PNB), has been appointed as the Managing Director and Chief Executive Officer of Indian Bank. Kumar succeeds Shanti Lal Jain, who retired on 31 December 2024 upon superannuation. His appointment, effective for a term of three years, was confirmed through a government notification dated 16 January 2025.

Extensive Banking Experience

Starting his career with PNB in 1994, Binod Kumar has garnered over three decades of experience in the banking sector. His career trajectory includes serving as Chief General Manager (Corporate Credit), Zonal Manager, and CEO of PNB’s operations at the Dubai International Financial Centre. In November 2022, he was promoted to Executive Director at PNB, a role he held until this new appointment.

Contributions to Banking and Finance

In addition to his leadership roles, Kumar has represented PNB as a nominee director on the boards of PNB Housing Finance and India SME Asset Reconstruction Company. His vast expertise across multiple banking domains positions him to lead the Indian Bank into its next phase of growth and development.

Indian Bank Share Performance

As of January 17, 2025, 11:00 AM, the shares of Indian Bank are trading at ₹521.60 per share with a decline of 1.06% from its previous day’s closing price. Over the last month, the stock has seen a decline of 7.83% and over the last year it has surged by 18.15%. The stock has a 52-week high and 52-week low of ₹632.70 per share and ₹430.05 per share respectively. 

Conclusion

Binod Kumar’s appointment as the MD & CEO of Indian Bank marks a significant milestone in his career, following his appointment by the central government. He replaces Shanti Lal Jain, who retired in December 2024.

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