KR Kamath, present chairman and managing director of Allahabad Bank is all set to take charge as the chairman of Punjab National Bank in the next few days.
Sources say that Kamath's order has already arrived and he might be asked to fill the position any time soon. The chairman's post in the bank has been lying vacant since a few months with KC Chakrabarty taking charge as the deputy governor of Reserve Bank of India.
JP Dua, the executive director of Allahabad bank would take the place of Kamath. Two general managers of Allahabad bank would take charge as the executive directors in some other banks and D Sarkar of Bank of Baroda is expected to take charge as one of the executive directors in Allahabad bank.
P K Anand and Narendra Singh, general managers at Allahabad Bank, will soon be joining Punjab and Sind Bank and Corporation Bank respectively as executive directors. Meanwhile, Allahabad Bank's net profit, for the second quarter ended September, soared on the back of treasury income and falling cost of deposits.
Shri Kamath has been a brilliant academician. He had secured "VI rank" in University of Mysore in II year B.Com in the year 1975 and was awarded the "Best Outgoing Commerce Student" of the college in the year 1976. He is a Certified Associate of Indian Institute of Bankers.