Public sector lender Indian Bank on Monday said that the Government of India has swapped the CEOs of state-owned lenders Indian Bank and IDBI Bank.
The government has appointed Kishor Piraji Kharat MD & CEO of IDBI Bank Ltd as MD & CEO of Indian Bank for the remaining period of his current tenure or until further orders whichever is earlier Indian Bank said in a filing to the Bombay Stock Exchange on March 20 2017.
Further the Government of India has also appointed the present MD & CEO of Indian Bank Mahesh Kumar Jain as MD & CEO of IDBI Bank Ltd it said.
The bank further said that this appointment will be effective from the date of assumption of charge of the post by Kishor Piraji Kharat as the position of MD & CEO being a whole time position.
Meanwhile shares of the bank closed at Rs 270 apiece down 4.66 per cent from previous close on BSE.