Government Appoints Ashok Chandra as MD & CEO of Punjab National Bank

The Indian government has announced the appointment of Ashok Chandra, Executive Director at Canara Bank, as the new Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB). This decision highlights the Centre’s focus on strengthening public sector banks as key drivers of economic growth.

Appointment Details

Ashok Chandra’s appointment, approved by the Appointments Committee of the Cabinet (ACC), was formalised through an order dated 15 January 2025 and issued on 16 January. He will serve as the MD and CEO of PNB for a tenure of three years, starting from the date he assumes charge or until further orders. The Financial Services Institutions Bureau (FSIB) recommended his name, reflecting the government’s confidence in his leadership abilities.

Role and Significance

PNB, being one of the largest public sector banks in India, plays a crucial role in the banking sector. Chandra’s extensive experience as the Executive Director at Canara Bank positions him well to lead PNB during a critical time when public sector banks are expected to support economic revival initiatives. The government is anticipated to announce schemes to boost consumption and industrial investment in the upcoming Budget, where PNB’s role will be pivotal.

Punjab National Bank Share Performance

As of January 17, 2025, 1:21 PM, the shares of Punjab National Bank are trading at ₹99.84 per share with a decline of 0.38% from its previous day’s closing price. Over the last month, the stock has seen a decline of 5.78% and over the last year it has surged by 2.74%. 

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