Shanti Lal Jain assumes charge as MD & CEO of Indian Bank, BFSI News, ET BFSI

Shanti Lal Jain assumed charge as Managing Director and Chief Executive Officer of Indian Bank on 1st September 2021.

Earlier Bank Of Baroda had announced that Shanti Lal Jain would cease to be its executive director from September 1, due to his appointment as the MD & CEO of Indian Bank for a tenure of 3 years.

Jain’s appointment is extendable based on his performance by upto two years, or till attaining the age of superannuation (i.e.January 31, 2024), the order said.

With more than 25 years of experience in banking, Jain possesses rich experience in critical portfolios. He joined Allahabad Bank in 1993 in the Middle Management cadre. As a General Manager, he has served as the Chief Financial Officer, Chief Risk Officer and headed the IT department of the Bank.

Later, he led the Mumbai team as Field General Manager (West) and was responsible for Maharashtra, Gujarat and Goa Operations having business of around Rs 50000 Crores. Prior to joining Allahabad Bank, he worked in various Industries for about 6 years.

Jain holds a Postgraduate Degree in Commerce, with Professional Qualification of Chartered Accountant, Company Secretary and CAIIB.