Govt Appoints Debadatta Chand As MD And CEO Of Bank Of Baroda

BOB, one of the country's largest public sector banks, has announced the appointment of Debadatta Chand as its new Managing Director and CEO, according to a statement released by the bank on April 29.

Currently serving as the bank's Executive Director, Chand will assume the top post for a period of three years from the date of assuming office on or after July 1, 2023, or until any new orders, whichever comes first.

This announcement comes after the government extended the term of Sanjiv Chadha, the previous Managing Director, until June 30, 2023, following the expiration of his original term on January 19 of this year.

"Central Government has appointed Shri Debadatta Chand (DoB: 31.01.1971), Executive Director, Bank of Baroda, as Managing Director and Chief Executive Officer, Bank of Baroda for a period of three years with effect from the date of assumption of office on or after 01.07.2023, or until further orders, whichever is earlier, vice Shri Sanjiv Chadha," said the bank's statement.

BOB stated that its overall business had surpassed the Rs 21 trillion milestone in the March quarter of FY23 in its business report for the fourth quarter of the fiscal year 2022-23 on April 10.

Following the Cabinet's Appointments Committee, chaired by Prime Minister Narendra Modi, approval, the appointment notifications were made.

According to reports from the news agency PTI, Debadatta Chand was suggested by the Financial Services Institutions Bureau (FSIB), the organisation that recruits directors for state-owned banks and financial institutions, in January of this year.