Govt Clears 3-Year Extension for Bank of India, Bank of Baroda MDs Ahead of Term End

The Appointments Committee of the Cabinet has approved 3-year extensions for the Managing Directors and Chief Executives of 2 public sector lenders, as per PTI reports.  

The panel, chaired by PM Narendra Modi, cleared the continuation of leadership at Bank of India and Bank of Baroda as their current terms near completion in 2026. 

Bank of India Extension from April 2026 

Rajneesh Karnatak will remain at the helm of Bank of India for another 3 years. His extended term is set to begin on 29 April 2026. 

He was appointed Managing Director and Chief Executive in 2023 for a 3-year period. The latest approval allows him to continue in the role until 2029, maintaining continuity in the bank’s senior management. 

Bank of Baroda Term to Begin in July 

Debadatta Chand, Managing Director and Chief Executive of Bank of Baroda, has also been granted a similar extension. His new term will commence on 1 July 2026, following the end of his current tenure. 

The approvals for both banks were taken ahead of the expiry of existing terms, in line with the usual process for senior appointments in state-run lenders. 

No Decision Yet on UCO Bank 

The government has not announced a decision on the tenure of Ashwani Kumar, who heads UCO Bank. His 3-year term is scheduled to end on 1 June 2026. 

A final view on his extension is yet to be communicated. 

Separate Approval for Indian Bank Executive 

In addition to the above, the committee has approved a 3-year extension for Ashutosh Choudhary, Executive Director at Indian Bank. The extension follows the standard tenure structure applicable to senior positions in public sector banks. 

Read More: BSNL CMD Search May Expand to Private Sector as Govt Seeks Fresh Leadership! 

Conclusion 

With these decisions, the tenures of the top executives at Bank of India and Bank of Baroda have been extended beyond their current terms. The pending decision on UCO Bank remains the only one unresolved among the current set of expiries. 

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