Union Bank of India’s Rajkiran Rai appointed new chairman of Indian Banks’ Association

FPJ Web DeskUpdated: Monday, November 23, 2020, 04:38 PM IST
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Rajkiran Rai G, MD and CEO, Union Bank of India |

The Managing Committee of IBA at its meeting held on November 20, 2020 elected Rajkiran Rai G, Managing Director and CEO, Union Bank of India as the Chairman, Indian Banks’ Association for the term 2020-21.

The other Office-bearers of the Association elected were CH SS Mallikarjuna Rao, MD and CEO, Punjab National Bank; Dinesh Kumar Khara, Chairman, State Bank of India and Madhav Nair, Country Head and CEO, Mashreq Bank — India as Deputy Chairmen and Rakesh Sharma, MD and CEO IDBI Bank Ltd, as Honorary Secretary of the Association for the term 2020 - 21.

Rai was at the helm when Union Bank of India completed the merger of Corporation Bank and Andhra Bank. As the newly appointed chairman of IBA, he will be responsible for achieving the objective of IBA.

Rai has more than three decades of rich banking experience which includes heading Industrial Finance Branch, Regions and Zonal Offices. Starting his career in 1986 as an Agricultural Finance Officer in the Central Bank of India, Rai rose through ranks while heading various branches at different parts of the country for more than 17 years. He is Chairman of Union Bank of India (U.K.) Limited, Union Asset Management Company and Star Union Dai-Ichi Life Insurance Company Limited and Director on the Board of EXIM Bank and Oriental Insurance Company Limited. Earlier, he also served on the Board of Canara HSBC Oriental Bank of Commerce Life Insurance Co. Ltd.

He is head of the Committee to advise the Banks Board Bureau (BBB) on evolving suitable training and development programs for management personnel in public sector banks.

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