Thursday, January 1, 2009

Indian Overseas Bank (About Us)


BOARD OF DIRECTORS

CONSTITUTION:

Ø The Constitution of the Board of the Bank is governed by “The Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970, formulated by the Central Government, after consultation with the Reserve Bank of India, in exercise of the powers conferred by section 9 of “The Banking Companies (Acquisition and Transfer of Undertakings) Ac, t 1970”.

COMPOSITION:

Ø The Composition of the Board of Directors of a Bank is governed by “The Nationalised Banks (Management and Miscellaneous Provisions) Scheme 1970” read with “The Banking Companies (Acquisition and Transfer of Undertakings) and Financial Institutions Laws (Amendment) Act 2006” and amendment to the vide Extraordinary Gazette Notification dated 19.02.2007 of the Central Government.

CONTRIBUTION:

Ø In terms of The Banking Companies (Acquisition and Transfer of Undertakings Act 1970, the General Superintendence, Direction and Management of the affairs and business of the Bank vests in the Board of Directors which is entitled to exercise all such powers and do all such acts and things as the Bank is authorized to exercise and do.

STRENGTH OF THE BOARD :

Ø Presently, there are 14 Directors on the Board of the Bank. Brief Particulars of each of the directors are placed below:

..1..

Shri S.A. Bhat,

Chairman and Managing Director

DOB: 22.10.1950

Qualification: B.Sc (Hons) CAIIB Part I

Appointed on: 04.06.2007

Term ends on: 31.10.2010

(Date of Superannuation)

AT BANK OF INDIA:

Shri S A Bhat joined Bank of India as a Probationary Officer in 1972 and was with them till 1st February 2006.

In Bank Of India, he started as an officer and Branch Manager of rural and semi urban branches. He was Chief Dealer at Mumbai Overseas Branch, of Bank of India. He had a two-year stint at Bank of India’s London Branch. He was with that Bank’s New York Office for four years as Vice President and Comptroller. He has headed the Bank of India’s Chennai Zone as Zonal Manager. As General Manager International Banking, he was in charge of the entire International operations of Bank of India. Later as General Manager, Risk Management, he was responsible for the implementation of Risk Management techniques and Basel II norms.

While at Bank of India, he was also nominee director for STCI, IL & FS and Indo Zambia Bank.

AT UCO BANK AS EXECUTIVE DIRECTOR

Shri Bhat was appointed by the GOI as Executive Director of UCO Bank on 2nd February 2006 and held that position till his present assignment as CMD of Indian Overseas Bank.

Shri Bhat has made many contributions to the Banking Industry, as a member of several committees. He was on the Technical Advisory Committee, Steering Group for Basel II, Committee on Credit Advisory System for Exporters, and Working Group for revision of ALM, all of which were constituted by Reserve Bank of India. He was also on the Indian Banks’ Association’s Committee for drawing Road Map for implementation of Basel II.

With an overall exposure in Banking, his strengths lie in International Banking, Credit, Rural Finance and Risk Management.

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Shri G. Narayanan

Executive Director

DOB : 31.10.1949

Qualification: B.Sc., CAIIB

Appointed on: 07.11.2007

Term ends on: 31.10.2009

(Date of Superannuation)

AT BANK OF INDIA :

Shri G Narayanan, joined Bank of India in the year 1970. Before his appointment in IOB as Executive Director, he was the Managing Director & Chief Executive Officer of Securities Trading Corporation of India Limited, Mumbai, one of the large Primary Dealers in the country.

Large part of his career was in International Treasury and Foreign Exchange related areas. After having headed large branches in Bank of India for more than ten years, he moved over to its Tokyo Branch on Overseas Assignment in the year 1985. He was the Head of the Jersey Branch, Cha Islands, United Kingdom of the Bank till the year 2001. He was in charge of Integrated Treasury for the Bank of India from 2001 to 2005 and instrumental for initiation of derivative business and for the moving the entire treasury operations to a fully automated environment.

He has been associated with Bankers’ Training College of Reserve Bank of India and Bank of India Training College as guest lecturer on Treasury related subjects.

His strength is his entrepreneurial qualities matching with a vast experience in Core Banking , Forex and Treasury Operations.

While at Bank of India he was Director on the Boards of :

Primary Dealers Association of India;

FIMMDA;

Clearing Corporation of India Ltd.;

UTI Securities Ltd.;

STCI Primary Dealer Ltd.

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Shri Y.L. Madan

Executive Director

DOB : 24.08.1950

Qualification : M.Sc., MBA, CAIIB

Appointed on: 16.05.2008

Term ends on: 31.08.2010

(Date of Superannuation)

AT CANARA BANK

Shri Y L Madan joined Canara Bank in 1973 as Officer trainee and has 35 years of experience. He served mostly in northern areas of Punjab, Haryana, Chandigarh, Bihar, Delhi and had a posting at Overseas Exchange Company in Doha, Quatar, managed by Canara Bank, He had one year stint as Faculty in Canara Bank Training Centre, Mumbai. He was the General Manager from October 2003 in Canara Bank before his appointment in IOB as its Executive Director.

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Dr. Vinita Kumar

Government Nominee Director

DOB : 25.12.1954

Qualifications : MA (Economics) Ph. D., Indian Economic Service (1977)

Nominated by GOI on: 10.06.2008 and will continue until further orders

Dr Vinita Kumar, is presently the Economic Adviser, Department of Financial Services, Ministry of Finance, New Delhi.

She has published books on the following topics.

Ø Economic Growth and Rural Poverty –The Indian Experience (1960-1995)

Ø Learning to Share : Experience and Reflections on Participatory Rural Appraisal and Community participation.

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Smt. Chitra Chandramouliswaran

RBI Nominee Director

DOB : 26.07.1944

Qualification: M.Sc., CAIIB

Nominated by GOI on: 27.02.2007 and will continue until further orders.

Smt Chitra Chandramouliswaran joined RBI in 1967 and has worked Industrial Export and Credit Department, Banking Operations & Development and Foreign Exchange (Exchange Control) Departments and RBI’s Central Office in Mumbai. She has also held senior assignments in RBI’s Regional Offices in Delhi and Bangalore. She retired as Chief General Manager of Reserve Bank of India in 2004.

She has been nominated by GOI as RBI nominee on the Board of the Bank with effect from 27.02.2007.

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Shri N. Sridaran

Workmen Employee Director

DOB : 10.12.1950

Qualification : SSLC

Nominated by GOI on: 20.04.2007

Term ends on : 19.04.2010 and thereafter until his successor is duly
nominated or till he ceases to be a workmen employee of IOB or until further orders, whichever is earlier.

Shri N Sridaran joined the Bank on 02.05.1972 and is having more than 36 years of banking experience in IOB. He is presently a Special Cadre Assistant attached to Cathedral Branch of the Bank.

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Shri J.D. Sharma

Officer Employee Director

DOB : 20.07.1956

Qualification : M Com., MBA, DIM, CAIIB, LLB

Nominated by GOI : 09.03.2006

Term ends on : 08.03.2009 and thereafter until his successor is
nominated or until he ceases to be an officer of IOB or until further orders
whichever is earlier.

Shri J D Sharma joined the Bank on 22.07.1977 and has more than 31 years of experience in the Bank. He is presently Senior Manger attached to Cathedral Branch of the Bank.

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Shri M. Ravindra Vikram

Part-Time Non-Official Director

DOB : 18.05.1957

Qualifications : B.Sc., FCA., LLB

Nominated by GOI on: 11.10.2006

Term ends on : 10.10.2009

Shri M Ravindra Vikram is a practicing Chartered Accountant. He is a partner in M/s M. Anandam & Co. Chartered Accountants, which is in existence for the past six decades. He has conducted Special and Investigation audits to report to RBI, IDBI, IFCI and ICICI and other premier Financial Institutions. He has conducted compliance studies for the RBI’s Forex Reserves. Sphere headed the study group in charge of the Balance Sheet reformatting and redesigning the Accounting Systems of the Reserve Bank of India. He was a Director of Indian Bank.

He has given lectures and presented technical papers on a variety of topics including Banking, Fraud, Money Laundering, Valuation, Current Audit trends, Industrial Restructuring etc. in various seminars, conferences conducted by Institute of Chartered Accountants of India, NIBM, JNIDB, Indian Institute of Public Enterprises etc.

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Shri Sooraj Khatri

Part-Time Non-Official Director

DOB : 06.08.1955

Qualifications : B.Sc., LL.B., Dip. In Labour Law

Nominated by GOI on: 09.12.2005

Term ends on : 08.12.2008.

Shri Sooraj Khatri is practicing legal profession as an Advocate in Rajasthan High Court. He is also a journalist, Editor and Publisher.

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Shri M.N. Kandaswamy

Part-Time Non-Official Director

DOB : 11.07.1949

Qualifications : M A., (Political Science & Public Admn.)

Nominated by GOI on: 07.02.2006

Term ends on : 06.02.2009

Shri M N Kandaswamy is basically an agriculturist, having over three decades of experience. He was the founder President of Coimbatore District Grapes Cultivators Association and also Ex Chairman of Land Development Bank of Thondamuthur, Thondamuthur Panchayat Union.

He was Ex President of Rotary Club of Thondamuthur and Primary Agriculture and Rural Development Bank and Ex Director in Coimbatore District Central Cooperative Bank.

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Shri B. V. Appa Rao

Part-Time Non-Official Director

DOB : 06.06.1950

Qualifications : B.Com., F.C. A.

Nominated by GOI on : 29.08.2008

Term ends on : 28.08.2011

A qualified Chartered Accountant in 1980, Shri Appa Rao, immediately joined Andhra Bank as Officer and served for 6 years. Leaving Andhra Bank, he joined M/s The Andhra Sugars Limited of Andhra Pradesh in the Senior Management and served for 7 years.

He is presently a Senior Partner in M/s B.V. Rao Associates, Chartered Accountants, Guntur started in the year 1994. During these 14 years of service he was Statutory Branch auditor for Union Bank of India, State Bank of India and Andhra Bank. He was Concurrent Auditor for various branches of Andhra Bank and Union Bank of India at Guntur. He was also Statutory Auditor for the Divisions of United Insurance company Limited appointed by Comptroller and Auditor General of India.

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Shri A.K. Bhargava

Shareholder Director

DOB : 10.05.1943

Qualification : B. Com., LL. B., CAIIB

Elected by Shareholders other than GOI on: 08.12.2005

Term ends on: 07.12.2008

Shri A K Bhargava is a retired General Manager of Punjab National Bank. He is a professional Banker with 40 years of experience. He is at present a Management and Financial Consultant.

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Dr. Chiranjib Sen

Shareholder Director

DOB : 29.09.1946

Qualification : MA (Econ.) Ph D

Elected by Shareholders other than GOI on: 08.12.2005

Term ends on: 07.12.2008

Dr Chiranjib Sen is a Professor of Economics in the Indian Institute of Management, Bangalore and a visiting Professor of about 13 universities in India and abroad. He has edited many books. Number of his articles on various topics of varied interest have been published in Indian and Foreign journals.

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Shri M.N. Venkatesan

Shareholder Director

DOB : 03.10.1955

Qualification : B.Com., FCA

Elected by Shareholders other than GOI on: 08.12.2005

Term ends on : 07.12.2008

Shri M N Venkatesan is a practicing Chartered Accountant for the past three decades. He is a partner in M/s M.R. Narain & Co., a Chartered Accountant firm, specializing in Audit and Financial Consultancy. He has been conducting audit of Public sector banks since 1984 as Statutory Central Auditors.

He has been involved in the audit of public sector undertakings including ONGC, IOC, MMTC ITI, BHEl etc. Has been conducting the audit of large private corporate in varied fields including special audit of NBFCs. He has been advising various corporate in financial planning, project financial management and allied matters.

He has given lectures and presented technical papers on Bank Audit in various seminars, conferences conducted by Southern India Regional council of the Institute of Chartered Accountants of India and Society of Auditors, Chennai. Was co-opted to the professional development committee of the Southern India Regional council, Institute of Chartered Accountants of India.

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