Govt extends tenure of BoI, BoB managing directors for 3 years

The government has extended the tenure of Managing Directors of Bank of India (BoI) and Bank of Baroda (BoB) for three years beyond their current terms. According to sources, the government has extended the term of Rajneesh Karnatak, MD and CEO of BoI, for three years, effective April 29, 2026. Karnatak was appointed as MD and CEO of the bank in 2023 for three years. Besides, the Appointment Committee of the Cabinet, headed by Prime Minister Narendra Modi, also approved the extension of Debadatta Chand, MD and CEO of BoB, for three years, effective July 1, 2026. However, the government has not yet taken a view on extension with regard to UCO Bank MD and CEO Ashwani Kumar, whose three-year term is also coming to an end on June 1, 2026. The Appointment Committee of the Cabinet has also extended the term of Ashutosh Choudhary as executive director of Indian Bank for another three years.

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