Former State Bank of India (SBI) executive Natarajan Sundar has been appointed managing director and CEO of National Assets Reconstruction Company Ltd (NARCL).
Sundar, who served SBI for over 37 years, retired as Deputy Managing Director and Chief Credit Officer of the bank on April 30, 2022. He has rich experience in corporate banking policies and products.
“Sundar was selected through a competitive selection process. He was interviewed in April by a panel of senior bankers from both public and private sector,” said NARCL.
NARCL is the special purpose vehicle set up as a joint initiative of Public and Private Sector Banks. It is expected to take over bad loans from banks.