CHENNAI, 21st NOVEMBER, 2022 (GPN): Mr. Mahesh Kumar Bajaj, assumed charge as Executive Director of Indian Bank from today. Before his elevation, Mr. Bajaj served as General Manager, heading the Transformation Management Office, Business Process Reengineering, Digitisation, Analytics Center of Excellence (ACOE), Marketing and Corporate Communication Departments of Indian Bank and was instrumental in successful amalgamation of Allahabad Bank into Indian Bank. Presently, he is on the Board and various committees of the Board of Universal Sompo General Insurance Company Limited as a Non-Executive Director.

Mr. Bajaj has a rich banking experience of over 29 years, with stints in India and as Chief Executive officer of Indian Bank Singapore. During his tenure, he has worked in all key banking functions in various capacities viz., Corporate, Transaction, Retail, Rural, Treasury & FX, NPA Management, Human Resources & Internal Audit. He led the International Division, Integrated Treasury and headed Large Credit Branches of the Bank as well.

Mr. Bajaj is a Postgraduate (M.Sc.) in Applied Mathematics, from Kurukshetra University and a Certified member of Indian Institute of Bankers.Ends

About Indian Bank

Established in 1907, Indian Bank is a premier Public Sector Bank with a dominant Pan-India presence. The government of India owns 88.06% of the shareholding. It is the First Public Sector Bank to install ATM at Harbour, Madras in 1989. The Bank has a vast branch network with 6004 branches, 5428 ATMs & BNAs, and overseas branches in Colombo and Singapore in addition to over 225 overseas correspondent banks.  The government of India had announced the Amalgamation of Allahabad Bank – a bank with 155 years of legacy – into Indian Bank in 2019. Indian Bank commenced its operation as an amalgamated entity on 1st April 2020. The integration of CBS systems of both the Banks was completed on 14th February 2021. Indian Bank has constantly thrived to adopt the latest technology and modify its techniques. Apart from various initiatives undertaken by Indian Bank, one of the out-of-the-box initiatives was the launch of MSME Prerana – an Online Business Mentoring PAN India Programme for MSME entrepreneurs. To strengthen this initiative, Indian Bank also launched ‘Ind Spring Board’, financing for Start-ups and entered MOU with IIT Madras. Over the years, Indian Bank has set new benchmarks in providing efficient banking services to its different client groups and has also emerged as a frontrunner in delivering excellent customer service.