The Bank of India has announced the appointment of Rajneesh Karnatak as Managing Director (MD) and Chief Executive Officer (CEO).
Rajneesh Karnatak has over 29 years of expertise. Prior to this, he was the top general manager of Punjab National Bank till October 21, 2021, when he was appointed executive director of Union Bank of India. He has a Master of Commerce degree and is a certified associate of the Indian Institute of Bankers (CAIIB).
As the General Manager of Oriental Bank of Commerce, he oversaw crucial divisions such as Large Corporate Credit Branches and strategic verticals such as Credit Monitoring, Digital Banking, and Mid Corporate Credit. Following the merger of Oriental Bank of Commerce and Punjab National Bank, he oversaw the Credit Monitoring Division as well as the Corporate Credit Division. He has substantial experience in project funding and working capital funding, as well as risk management, with a focus on credit risk.
He has completed Leadership Development Programmes and trainings at IIM-Kozhikode and JNIDB Hyderabad, as well as the Advance Management Programme at IMI (International Management Institute) Delhi. He was part of the first batch of Senior Officers chosen by FSIB (formerly BBB) for the Leadership Development Programme at IIM Bangalore and Egon Zehnder.
Karnatak has served as the Union Bank of India’s Non-Executive Chairman of UBI Services Ltd. He has also served on the board of UBI (UK) Limited as a Non-Independent Non-Executive Director. He was a member of the Indian Institute of Bank Management (IIBM) Guwahati’s Governing Board. He has served on the boards of PNB Housing Finance Ltd. and India SME Asset Reconstruction Company Limited as a Nominee Director on behalf of Punjab National Bank. He also sat on the board of IAMCL (IIFCL Asset Management Co. Ltd).