Correct Answer : Option (C) - Shanti Lal Jain
The Appointments Committee of Cabinet (ACC) has approved the proposal to appoint Shanti Lal Jain as the new Managing Director(MD) and Chief Executive Officer(CEO) of the Chennai-headquartered Indian Bank, stated an information notice issued by the government on August 19, 2021.
Jain, 56, is currently the Executive Director of state-run Bank of Baroda. The Department of Financial Services had proposed his appointment as the MD and CEO of Indian Bank, which has now been approved by the ACC.
Jain has been assigned his new post for a period of three years with effect "from the date of assumption of office on or after 01.09.2021, or until further orders, whichever is earlier", the notice read.
"The appointment is extendable based on his performance by up to two years, or till attaining the age of superannuation (i.e.31.1.2024), or until further orders," it added.