Former Finance Secy Hasmukh Adhia Nominated Again As BoB Chairman

Former Finance Secretary Hasmukh Adhia has been nominated again as the chairman of state-owned Bank of Baroda (BoB), according to a government order.

The Appointments Committee of the Cabinet has approved the proposal of the Department of Financial Services for re-nomination of Adhia as non-executive chairman of the BoB, a government order said.

His term has been extended by another two years as chairman with effect from March 1, 2022, it said.

BoB is the third biggest public sector lender after State Bank of India and Punjab National Bank.

Adhia retired as Revenue-cum-Finance Secretary in November 2018.

It was during his tenure as Financial Services Secretary that the decision to split the post of Chairman and Managing Director of public sector banks was taken to foster greater transparency in decision making.

The decision was in line with P J Nayak Committee recommendations.

(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)

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