Last Updated on 22/03/2017
About Us

BOARD OF DIRECTORS

CONSTITUTION:
The Constitution of the Board of the Bank is governed by "The Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970, formulated by the Central Government, after consultation with the Reserve Bank of India, in exercise of the powers conferred by section 9 of "The Banking Companies (Acquisition and Transfer of Undertakings) Act 1970".

COMPOSITION:
The Composition of the Board of Directors of a Bank is governed by "The Nationalised Banks (Management and Miscellaneous Provisions) Scheme 1970" read with "The Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act 2006" and amendment vide Extraordinary Gazette Notification dated 19.02.2007 of the Central Government.
 
CONTRIBUTION:
In terms of The Banking Companies (Acquisition and Transfer of Undertakings) Act 1970, the General Superintendence, Direction and Management of the affairs and business of the Bank vests in the Board of Directors which is entitled to exercise all such powers and do all such acts and things as the Bank is authorized to exercise and do.

STRENGTH OF THE BOARD:

Presently, there are  9 Directors on the Board of the Bank. Brief Particulars of each of the directors are placed below:  
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Shri. T C A Ranganathan
Non-Executive Chairman
D.O.B : 19.11.1953

Appointed by Government of India, Ministry of Finance, Department of Financial Services vide their Notification No.F.No.4/9/2016-BO.1 dated 16.02.2017 as Part Time Non-official Director as well as Non-Executive Chairman for a period of three years from the date of notification of this appointment or until further orders whichever earlier.
 

Shri T. C. A. Ranganathan has over 38 years of banking experience after completing his graduation/ post-graduation in Economics from St. Stephen’s College, Delhi School of Economics.

Shri  T. C. A. Ranganathan served as the Chairman  and Managing Director of Export-Import Bank of India from February  2010 to November  2013. As Chairman of Exim Bank, he had been a member of several Government of India overseas initiatives such as Indo-South Africa CEO Forum, Indo-Africa Business Council, Indo-Myanmar Joint Trade and Investment Forum etc.

Shri  T C A Ranganathan started his career with State Bank of India wherein he had diverse assignments in International Banking, Investment Banking, Corporate Finance and Consultancy in addition to Domestic Banking as Branch Head/ Branch Controller and also held the following positions :

-   Managing Director of State Bank of Bikaner & Jaipur from 2009-2010.

-   Chief General Manager of State Bank of India from 2007-2009

-   Chief Executive Officer of State Bank of India from 2005-2007

-   General Manager and Head of the Mid Corporate Regional Office  for North India (2004-05)

-   Senior Vice President and North India Head of SBI Capital Markets Ltd. (2001-2004)

-  Member of Technology Planning Group set up by SBI for introducing new technology and change management initiatives (2000-2001)

-  Head of Credit Appraisal Cell of the newly formed Commercial Network, State Bank of India, New Delhi (1997-99)

-    Regional Manager of SBI (Western Rajasthan) (1995-1997).

His earlier International experiences include starting the first Indian Commercial Banking operations in China (SBI Shanghai) and Board positions in various SBI subsidiaries in North America, Africa and Asia.

Currently, he is associated with ITC Geneva (a UNDP rganization) as also 2 US based international consultancy rganizations – M/s. Gerson Lehman Group and M/s. Bower Asia Group apart from working as an arbitrator through the panels of NSE/BSE/NCDEX/Indian Council of Arbitration in addition to contributing columns in various economic newspapers and magazines on issues relating to international trade/ domestic economy.

Shri T C A Ranganathan is an independent non executive Director on the boards of :

a)SREI Infrastructure Finance Ltd.

b)ILFS Maritime Infrastructure Company Ltd.

c)SIS Ltd.

d)RAL Consumer Products Ltd.

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Shri. R. Subramaniakumar
Executive Director with Additional Charge of MD & CEO
D.O.B : 15.06.1959
Qualification: Science Graduate with Post Graduate Diploma in Computer Science, CAIIB and acquired skills in Information System Audit & Information Security withCISA, CISM Certification.

Shri. R. Subramaniakumar has assumed office as Executive Director of Indian Overseas Bank on 29.09.2016.

Prior to joining IOB, Shri. R. Subramaniakumar was Executive Director of Indian Bank since 22nd January 2016.  As Executive Director of Indian Bank, he was instrumental in bringing the business transformation with introduction of Retail, MSME & other business verticals. He spearheaded Digital Banking transformation with new products & services.  Earlier, Shri. R. S. Kumar joined Punjab National Bank and served for more than three decades.   During his stint in Punjab National Bank, he lead the core banking implementation and technology initiatives of the Bank, along with BPR exercise, and lead the “Pragati” – transformation exercise across HR, Alternate Channel, Technology, Retail, MSME, New Business Initiatives , etc.  He was on the Board of “Druk PNB”, Bhutan. He has experience across various business verticals and also served as Zonal Head during his tenure at PNB and introduced many innovative banking solutions across the verticals. His innovative RRB CBS model was adopted by many other banks. He also championed the FI model.

As part of customer service enhancement exercise, he established the contact centre practice in PNB apart from introducing many Customer Service enhancing initiatives including "Customer First" concept.

Being a techno Banker, he contributed in various IBA & IDRBT committees on technology & FI and was core member of the Smart Card and Micro ATM Standards Committee. He was a guest faculty at IDRBT, Hyderabad and RBI Staff Training College, Chennai. He has worked in various positions and geographies during his career spanning 35 years in the industry. 

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Shri. K. Swaminathan
Executive Director D.O.B : 30.07.1962
Qualification: B.Com., CAIIB, CFA, ICWA(Final)

Shri. K. Swaminathan has assumed office as Executive Director of Indian Overseas Bank on 17.02.2017.

Shri K Swaminathan joined the Bank on 10.6.1985 as Probationary Officer at Chennai and worked at various Branches under different capacities in Rural/Semi urban and urban Branches/administrative offices PAN India gaining rich experience and knowledge in all domain of Banking.  He also had a four year stint in Hongkong.

Shri K Swaminathan headed Madurai and Hyderabad Regions as Chief Regional Manager and contributed significantly for the development of the Bank.  He was elevated as General Manager on 1.9.2014 and posted to Central Office as GM of Corporate Debt Restructuring Department and Mid Corporate Department.

Before his elevation as Executive Director, he was heading Mumbai Zone, comprising of 7 western Regions. Improving quality assets, minimizing TAT, recovering nonperforming assets and targeting customer delight are his main agenda for the days to come.

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Ms. Annie George Mathew
Government Nominee Director

Nominated by GOI on:22.07.2016 and will continue until further orders. 

Ms.Annie George Mathew is presently the Joint Secretary , Department of Expenditure,Government of India.

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Shri.Nirmal Chand
RBI Nominee Director
DOB : 31.01.1961
Qualification : MBA, CAIIB

Nominated by GOI on: 13.03.2014 and will continue until further orders.
Shri Nirmal Chand is presently the Regional Director of Reserve Bank of India (RBI), Thiruvananthapuram Office having jurisdiction over State of Kerala and Union Territory of Lakshadweep. Prior to this he was an Office-in-charge of Raipur Office of the Reserve Bank of India.

Shri Nirmal Chand joined the Reserve Bank of India in 1986. He is a post graduate from Punjab University, Chandigarh. He is holding an MBA and is also a Certified Associate of the Indian Institute of Bankers (CAIIB).

He has held several positions in RBI's various Offices. He has earlier worked in RBI's Central Office at Mumbai as well as other Regional Offices at Kolkata, Jaipur, New Delhi and Raipur in the departments of Banking Supervision, Non Banking Supervision, Currency Management and Payment Systems.

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Shri. Niranjan Kumar Agarwal 
Shareholder Director 
DOB : 22.10.1958
Qualification : B.Com (Hons), F.C.A.
Deemed to be elected as Shareholder Director with effect from 08.12.2014
Term ends on: 07.12.2017

Advisor to Large Corporates on finance and taxation matters for the last 30 years.

He has vast experience in the field of capital and money market.   Specialised in Audit, Merger and Amalgamation, Corporate Restructuring and  Project Financing.  Also specialised in Taxation, Tax Planning and Company Law matters.
He is presently member in Executive Board of 
(1) MCC Chamber of Commerce & Industry and 
(2) Marwari Relief Society, Kolkata

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Shri. Sanjay Rungta
Shareholder Director 
DOB : 26.01.1966
Qualification : B.Com , F.C.A.
Deemed to be elected as Shareholder Director with effect from 08.12.2014
Term ends on: 07.12.2017

Shri Sanjay Rungta from Mumbai  has done B.Com from Rajasthan University and is a practicing Chartered Accountant with more than 25  years of experience and has been exclusively working for the Public Sector Banks.  He is a senior managing partner of M/s. S.P. Rungta & Associates, Chartered Accountants, Mumbai since the last 25 years.

In the last 25 years he has conducted various kinds of audits of the Banks’ branches like regular Internal inspection, concurrent audit, statutory audit and having conducted stock audit, valuation of primary securities, due diligence and monitoring of large corporate domestic borrowers on behalf of Public Sector Banks.  He was also appointed as concurrent auditor of large borrowers under the CDR mechanism by the Monitoring Institution under CDR cell of RBI.

Shri Rungta is in the panel of “Peer Reviewers” nominated by the ICAI and has also conducted peer reviews of various CA firms in accordance with the ICAI regulations in the last few years.  Apart from vast experience of audits of banking industry, he has also handled various types of audit and other assignments of many private and public sector corporations, insurance companies, central cooperative societies, Government companies.

He has widely travelled in India and abroad.

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Shri. K Raghu
Part-time Non- official director under Chartered Accountant Category
D.O.B : 09.10.1965
Nominated by GOI on 26.07.2016 for a period of three years from the date of notification of his appointment or until further orders, whichever is earlier.
Terms ends on: 25.07.2019

CA K. Raghu is a Fellow member of the Institute of Chartered Accountants of India with more than 25 years of professional standing and is the senior partner of K. Raghu & Co., Chartered Accountants, Bangalore.

CA K. Raghu served as the President of the Institute of Chartered Accountants of India during 2014-15 and as a member of the Central Council for a period of 9 years from 2007 to 2016.

He is currently a Member of the following:

· The Board of International Federation of Accountants – New York.

· The Quality Review Board, an independent audit regulator for public interest entities.

· Honorary Member of the Certified Public Accountants of Australia and The Institute of Chartered Accountants of Australia and New Zealand.

CA K. Raghu has served in various other Institutions and Government Committees as under:

· Member of the Board of Insurance Regulatory and Development Authority (IRDA)

· Member of the Confederation of Asia and Pacific Accountants, National Advisory Committee on Accounting Standards

· Member of the High level Steering Committee for Implementation of XBRL based data submission by Banks.

· Member of the Working Group constituted by the Ministry of Corporate Affairs in the areas of Corporate Governance, Corporate Social Responsibility and other aspects of Corporate Affairs

· Member of the Advisory Committee on Mutual Funds of Security and Exchange Board of India.

· Member of the Regional Monitoring Committee of NBFCs in Karnataka.

· Member of the Audit Advisory Board constituted by the Office of the Comptroller & Auditor General of India, Member of the Government Accounting Standards Advisory Board (GASAB) for Union and the States constituted by C&AG.

·Member of the India-UK (Indo-UK) Task Force on Corporate Affairs constituted by the Ministry of Corporate Affairs.

· Member of the Governing Body of the National Institute of Public Finance and Policy.

· Member of the Central Direct Taxes Advisory Committee (CDTAC) of Central Board of Direct Taxes and on Regional Direct Taxes Advisory Committee (RDTAC).

· Member of the Governing Council of National Foundation for Corporate Governance (NFCG).

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Shri. Vishnukumar Bansal
Additional Director
D.O.B : 06.09.1953
Qualification: FCA
Appointed by Reserve Bank of India with effect from 08.08.2016 as Additional Director of our Bank.  
Terms ends on: 07.08.2018

Shri. Vishnukumar Bansal, is one of India’s most experienced investment bankers with around 40 years of overall work experience.

Shri. Vishnukumar Bansal currently serves as the Chairman of Morgan Stanley’s Investment Banking Division in Mumbai, India. Under his Chairmanship, Morgan Stanley is one of the top ranked Investment Banks both in Advisory and Equity Capital market transactions in India. On a day-to-day basis, Shri. Bansal brings forth his experience and in-depth understanding of Indian institutional finance and provides strategic advice to corporations on structuring their capital requirements and M&A strategy. He has helped raise substantial amount of equity and debt capital for Indian clients from domestic and global investors. He works with global clients in framing their inbound interest into India in core growth sectors like infrastructure, power, banking, technology and healthcare, etc.  He also works with Indian clients to help expand into other global markets by acquiring mineral assets such as coal, oil & gas, cement, chemicals and general industrials.

Shri. Vishnukumar Bansal helps raise growth capital for Indian Corporates from financial sponsors/ sovereign wealth funds.  Also, works closely with financial sponsors in helping identify high growth investment opportunities across various sectors while developing appropriate exit strategies for them.  He has contributed significantly in bringing out new  regulations like InvIT/ REIT recently announced by SEBI for the development of infrastructure /real estate sector which will also help in churning out debt exposures  of the Indian banking system.

Shri. Vishnukumar Bansal joined the Investment Banking Division of Morgan Stanley in 2007. Prior to Morgan Stanley, he was the Managing Director at JM Morgan Stanley (Morgan Stanley’s erstwhile joint venture) since 1999. Earlier, he was the President of JM Financial since 1994. Prior to JM Financial,       Shri. Bansal worked with Indian Oil Corporation (sole canalizing agent for India’s oil needs) for 18 years, most recently as the Chief of International Finance where he handled India’s oil imports worth over US$ 10 billion a year and worked with global banks for financing the same.

He was the Chairman of the Association of Merchant Bankers of India and assisted in drafting key financial and capital markets policies. He has been the Co-Chairman of the Capital Markets Committee of the Bombay Chamber of Commerce. He was also one of the longest serving members of the SEBI Primary Markets Advisory Committee and a member of the SEBI Corporate Governance committee.  Currently, he is co-chairman of National Capital Market Committee of Assocham.   He has closely worked with Government of India on its multi-billion dollar disinvestment programs.