Rajneesh Karnatak joins Bank of India as MD & CEO

New Delhi [India], April 30 : Rajneesh Karnatak has joined the Bank of India as its managing director and chief executive officer, the lender has said.

Rajneesh Karnatak has an experience of over 29 years. Prior to this, he had been the chief general manager of Punjab National Bank until his appointment as executive director in Union Bank of India from October 21, 2021. He completed the Master of Commerce and is a certified associate from Indian Institute of Bankers (CAIIB).

During his banking career, he has headed critical divisions like large corporate credit branches and strategic verticals such as credit monitoring, digital banking and mid corporate credit as general manager in Oriental Bank of Commerce.

Post-amalgamation of Oriental Bank of Commerce into Punjab National Bank, he headed credit monitoring division and also the corporate credit division in PNB. He carries extensive exposure in project funding and working capital funding along with risk management with specific reference/special emphasis on credit risk.

Karnatak has served as non-executive chairman of UBI Services, on behalf of Union Bank of India. He has also served as non-independent non-executive director on the Board of UBI (UK). He was a member of the governing board of the Indian Institute of Bank Management (IIBM) Guwahati.

He has served as nominee director on behalf of Punjab National Bank on the board of PNB Housing Finance, and India SME Asset Reconstruction Company. He also served as the board trustee on IIFCL Asset Management Co (IAMCL).