CHENNAI: Public sector Indian Bank today said Kishor Kharat has taken charge as its new Managing Director and CEO with immediate effect.
Prior to taking up the new role, Kharat was serving as the Managing Director and CEO of IDBI Bank.
Kharat replaces Mahesh Kumar Jain, who is set to join IDBI Bank as the Managing Director and CEO, a bank release here said.
Kharat, who was with the Union Bank of India from March 2015 was elevated as the Managing Director and CEO of IDBI Bank, in August 2015. In his brief stint at IDBI Bank, Kharat served IDBI Capital Market Services, IDBI Asset Management Ltd and IDBI Trusteeship Services Ltd, as its Chairman. He has held various responsibilities including, Chairman of Governing Council of Entrepreneur Development Institute of India, Ahmedabad. He began his 37-year banking career from public sector Bank of Baroda, and was instrumental in the establishment of foreign subsidiary of the bank in Trinidad and Tobago, West Indies.
Kharat is a member of the Reserve Bank of India Committee on Financial Inclusion and is currently the Alternate Chairman of IBA (Indian Banking Association) Standing Committee on Risk Management and Basel Implementation. A graduate of Commerce and Law, Kharat also holds a degree in Master of Business Administration. He is also a member of the CII National Committee on Banking, the release added.