The Chairman and Managing Director of Punjab National Bank, Mr. K.R. Kamath, has been elected as the new Chairman of Indian Banks' Association (IBA). He takes over as the Chief of the banking body on October 1, 2012.
Besides electing a new chairman, the managing committee of Indian banks' association also elected several new deputy chairpersons. Those who have been chosen as deputy chairpersons are: Chairman and Managing director of Indian Bank - Mr. T.M.Bhasin; Chairman and Managing Director of United Bank of India - Mr. Bhaskar Sen; MD and CEO of ICICI Bank - Ms. Chanda Kochhar. The Chairman of State bank of India, Mr. Pratip Chaudhuri, has been named as the Honorary Secretary of the Association.
Indian banks' association is a banking body consisting of 173 banks. It members include all types of banks such as public sector banks, urban co-operative banks, private sector banks and foreign banks having branches in India.