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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