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HomeBusinessRBI approves Pankaj Kumar Panja as Karnataka Bank non-executive chairman

RBI approves Pankaj Kumar Panja as Karnataka Bank non-executive chairman


Resereve Bank of India (RBI) has permitted the appointment of Pankaj Kumar Panja as section-time Chairman of Karnataka Financial institution, the loan provider said in a regulatory submitting on Friday. The appointment will arrive into result from November 14, 2021 and will be for a period of 3 a long time.

“We are happy to inform you that Lender has acquired acceptance from the Reserve Bank of India (RBI) in phrases of Segment 10B(1A)(i) of the Banking Regulation Act, 1949 for appointment of Pradeep Kumar Panja, Impartial Director of the Bank, as Section Time Chairman of the Financial institution, w.e.f. November 14, 2021 for a interval of a few several years,” Karnataka Lender stated in its submitting.

“The RBI has also permitted the payment of remuneration to him as in depth in the annexure to this letter which the Lender will spot it in advance of the shareholders at their Yearly Normal Conference to be held in FY 2022-23,” it further extra.

Panja is a profession banker and retired as Running Director (Corporate Banking) of State Bank of India (SBI). He has also served as Running Director of Point out Financial institution of Travancore for about a calendar year. He has used 39 several years with SBI, three yrs of which was at Board stage. 

Panja has rich experience in various areas of banking like company and intercontinental banking, treasury administration, facts technological know-how, retail, transaction banking, strategic setting up, organization enhancement and danger administration.

Currently he is a member of Banks Board Bureau (BBB) and also Director on the Boards of 7 organizations (which includes a few shown corporations which includes Karnataka Lender) engaged in the business of asset reconstruction, cement, actual estate, NBFC, AFI, and so on. He is on the Board of Karnataka Lender considering that August 19, 2020.

Panja’s abilities consists of accountancy, banking, cooperation and SSI, finance, IT, hazard management, payment and settlement, HR and company management.

As non-executive chairman of Karnataka Financial institution, Panja will withdraw a salary of 15 lakh for each annum, topic to acceptance of the shareholders at their ensuing Yearly Normal Conference to be held in FY2022-23.

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