Ajay Vipin Nanavati Appointed as Syndicate Bank Chairman

Government of India has appointed Sri Ajay Vipin Nanavati as chairman of Public Sector Bank, Syndicate Bank. The appointments committee of the cabinet has approved his appointment as non-official director/non-executive chairman of Syndicate Bank for three years, according to an order issued by the department of personnel and training.

Read : Syndicate Bank Declares Financial Results for Quarter June 2017

Earlier in year 2015, the government had bifurcated the posts of chairman and managing director in public sector banks (PSB’s). There are different work assigned for Chairman & CEO’s, While the chairman became responsible for overall policy directions, the managing director and chief executive officer became the executive head, accountable for day-to-day functioning of the bank.