(THE NEWSMAN OF INDIA.COM)
NEW DELHI: The Financial Services Institutions Bureau (FSIB) on Saturday recommended Binod Kumar for the post of Managing Director and CEO of Chennai-based Indian Bank.

Kumar, who currently serves as Executive Director at Punjab National Bank, is set to replace S L Jain, who will retire next month upon reaching superannuation.

Announcing the outcome of the selection process, the FSIB, which acts as the headhunter for directors of state-owned banks and financial institutions, stated that it interviewed 15 candidates for the position.

Binod Kumar had assumed charge as Executive Director of the Bank on 21st November, 2022.

Binod Kumar, a Graduate in science from Ranchi University and holds Post Graduate Diploma in Banking & Finance from NIBM, Financial Risk Manager (FRM) from GARP (USA) and a Certified Associate Member of Indian Institute of Bankers (CAIIB).

Kumar started his banking journey in Punjab National Bank as Management Trainee in the year 1994 and has served the bank for last 28 years. He has rich and diversified banking experience of over 28 years, ranging from Branch and Administrative Office to Risk Management, Credit etc. He has also headed BO: DIFC as Chief Executive Officer and was previously heading the Corporate Credit Division, Head Office of Punjab National Bank as Chief General Manager.

Kumar has Diploma in Treasury Investment & Risk Management, Banking & Finance by IIBF and Leadership Skill development Program from IIM Bangalore.

He has also served as the Nominee Director on behalf of PNB on the Board of PNB Housing Finance Limited & ISARC (India SME Asset Reconstruction Company Limited).