CURRENT AFFAIRS
CURRENT AFFAIRS
Description
The Indian Banks' Association (IBA) has elected M V Rao, Managing Director and CEO of the Central Bank of India, as its new Chairman. The decision was made during the IBA's managing committee meeting on March 21.
Vice-Chairmen Are Elected
The committee also elected the following three people as vice-chairmen of the banking advocacy group-
Dinesh Kumar Khara is the Chairman of State Bank of India (SBI),
S L Jain is the Managing Director and CEO of Indian Bank.
N Kamakodi, Managing Director and CEO of City Union Bank.
Honorary Secretary Appointed
Madhav Nair, Country Head and CEO of the Bank of Bahrain and Kuwait, was unanimously elected Honorary Secretary of the IBA.
Madhav Nair's Role
Madhav Nair, who previously served as Deputy Chairman, has been a management committee member since 2016. He has advocated for policies related to technology, risk management, and environmental, social, and governance (ESG) factors.
About The Indian Banks' Association (IBA)
The IBA is a representation body of Indian banks, including public, private, foreign, cooperative, and regional rural banks. It is crucial for defining banking policies and encouraging best practices in India's banking industry.
The election of the IBA's new leadership team is expected to bring fresh energy and direction to the association's efforts to address the challenges and possibilities confronting India's banking sector.
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