Punjab National Bank on Thursday announced that the government has approved the appointment of Canara Bank Executive Director Ashok Chandra as the managing director and CEO of PNB, for a period of three years. In a regulatory filing, PNB said, “With reference to the captioned subject, the Exchange is hereby informed that pursuant to Department of Financial Services, Ministry of Finance, Government of India Notification no. eF. No. 4/4(i)/2023-BO.I dated 16.01.2025, Shri Ashok Chandra has assumed office as the Managing Director & Chief Executive Officer (MD & CEO) of the Bank with effect from 16.01.2025.”
Further, the Bank also informed that Binod Kumar ceased to be the executive director of PNB upon his appointment as managing director & chief executive officer (MD & CEO) of Indian Bank.
Ashok Chandra, PNB said, has a vast and varied experience in the banking industry, spanning more than 33 years. He was executive director of Canara Bank from 21st November 2022 to 15 January 2025. In his capacity as executive director in Canara Bank, he has overseen various verticals in Canara Bank including digital banking and information technology, strategy and planning, marketing and public relations, financial inclusion, MSME, retail asset, agriculture and priority sector, gold loan, liability management, general administration, etc.
He was also a director in the Board of Canara HSBC Life Insurance Company Limited, PSB Alliance Ltd and Canara Venture Capital Fund Ltd. He is a member of IBA standing committee for HR.
Before this, Ashok Chandra had served as Chief General Manager in Union Bank of India. He also served as director in the Board of The Union Trustee Company Private Limited and as a Director in The National Asset Reconstruction Company Limited (NARCL).
Ashok Chandra holds a Master’s Degree in Economics and is also a Certified Associate of Indian Institute of Bankers. He was chosen to be a part of the leadership programme designed by the Banks Board Bureau and conducted by IIM Bangalore during 2019-2020, PNB said in a statement.