Ch S S Mallikarjuna Rao appointed as MD and CEO of PNB

The government has appointed Ch S S Mallikarjuna Rao as the Managing Director (MD) and Chief Executive Officer (CEO) of Punjab National Bank (PNB). The proposal to appointed Mallikarjuna was initiated by the Department of Financial Services. Appointments Committee of the Cabinet (ACC) approved the proposal of appointment. He will be appointed for a tenure of 2 years up to 18 September 2021.

Ch S S Mallikarjuna:
Ch S S Mallikarjuna Rao, 57, has more than 34 years of experience in the banking sector. He is currently serving as the Managing Director and Chief Executive Officer of Allahabad Bank since 2018. Previously he served as Executive Director of Syndicate Bank since 2016.

PNB Merger:

In August 2019, the government merged United Bank of India and Oriental Bank of Commerce with Punjab National Bank. After the merger, PNB became the second largest public sector bank (PSB).