Ajay Kumar Srivastava has been elevated as Managing Director and CEO of Indian Overseas Bank with impact from January 1, 2023 from his present posting as govt director.
He began his banking profession as a probationary officer in 1991 with Allahabad Financial institution the place he labored in numerous capacities in numerous elements of the nation. He’s an astute and hardcore banker with Huge field-level expertise and has the excellence of getting efficiently led the most important and most crucial areas of Uttar Pradesh, Gujarat, and Delhi whereas working at a senior stage in Allahabad Financial institution.
After the profitable completion of about 27 years in Allahabad Financial institution he was elevated as Govt Director of IOB in October 2017. At Indian Overseas Bank as Govt Director, he had a really difficult journey. Financial institution was incurring losses since 2014, was in PCA since 2015 and Monetary parameters have been in dangerous form apart from many different challenges.
He made methods for every of the important thing areas and efficiently carried out them on the floor stage with the assist of the Board. He served the Financial institution as Govt Director for greater than 5 years and dealt with all of the departments and portfolios through the interval. The spotlight of his stint as Govt Director has been taking part in a really key function in bringing the Financial institution out of loss in March 2020 and out of PCA in September 2021. Furthermore, he was the one Govt Director within the Financial institution for about 14 months throughout 2020-2021.
He was appointed as Director on the Board of India Infrastructure Finance Firm by the federal government for 2 years. He additionally served as Director on the Board of Regional Rural Financial institution in his earlier Financial institution.