The Bank of India has appointed Rajneesh Karnatak as its managing director and chief executive officer.

The Bank of India tweeted, “With a new leader we are poised to ascend to new heights & successes. Here are glimpses of warm welcome to our MD & CEO Shri Rajneesh Karnatak at Bank of India Head Office, Mumbai”, through its official Twitter handle.

Rajneesh Karnatak has over 29 years of experience. Prior to this, he was the chief general manager of Punjab National Bank till October 21, 2021, when he was appointed executive director of Union Bank of India. He has a Master of Commerce degree and is a certified associate of the Indian Institute of Bankers (CAIIB).

As general manager of the Oriental Bank of Commerce, he oversaw vital divisions such as major corporate credit branches and strategic verticals like credit monitoring, digital banking, and mid-corporate credit.

Following the merger of Oriental Bank of Commerce into Punjab National Bank, he headed the credit monitoring division as well as the corporate credit division at PNB. He has substantial experience in project funding risk management, with a focus on credit risk.

Mr. Karnatak has served as the Union Bank of India’s non-executive chairman of UBI Services. He has also served on the Board of UBI (UK) as a non-independent non-executive director. He served on the board of directors of the Indian Institute of Bank Management (IIBM) Guwahati.

He has served as the nominee director on the boards of PNB Housing Finance, and India SME Asset Reconstruction Company on behalf of Punjab National Bank. He was also a board trustee for IIFCL Asset Management Co (IAMCL).

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