In a board meeting held on July 20, 2020, he was co-opted as an additional director in and appointed as the managing director and CEO of the lender for three years from the date of taking charge, on the terms and conditions okayed by the Reserve Bank of India.
Babu holds more than 40 years of experience in banking, handling several segments of banking across different geographies in India and abroad at State Bank of India. He was appointed as the deputy managing director & chief operating officer of State Bank of India.
Babu said, “Karur Vysya Bank has imbibed the twin qualities required for banking – trust and customer delight – due to which it enjoys excellent goodwill in the market. I am assuming charge at a time when the world is passing through unforeseen crisis forcing us to unlearn and relearn. This creates wonderful opportunities for innovation, and with a clear vision, I am sure that the bank will find its future contributory space.”