Punjab National Bank (PNB’s) managing director and chief executive, Sunil Mehta was elected as new chairman of Indian Banks Association (IBA) for year 2018-19.
Bank of India’s managing director and chief executive Dina Bandhu Mohapatra was elected as the deputy chairman. Madhav Nair, country head and and chief executive, Mashreqbank PSC, was elected as Honorary Secretary of IBA for 2018-19, State Bank of India’s chairman, Rajnish Kumar, and Federal Bank’s managing director, Shyam Srinivasan, will continue as deputy chairmen of IBA.
Indian Bank’s Association (IBA) :
It is an association of Indian banks and financial institutions. It was established on September 26, 1946. It is headquartered in Mumbai. Its objective is to strengthen, develop and foster coordination among Indian banking stakeholders. It also facilitates various member banks. Managing Committee of IBA consists of chairman, three deputy chairmen, one honorary secretary as well as 26 members. The members of IBA comprise of public sector banks, private sector banks, foreign banks having offices in India, co-operative banks, regional rural banks and all India financial institution. Currently it has 237 members from banking sector operating in India.