The Financial Services Institutions Bureau (FSIB) has recommended Shri Ashok Chandra for the position of Managing Director (MD) and Chief Executive Officer (CEO) at Punjab National Bank (PNB). The decision follows an evaluation of Chandra’s experience, qualifications, and performance during interviews held on October 26 and 28, 2024, where FSIB assessed 16 candidates for this prestigious role.
FSIB’s Selection Process for MD & CEO
The FSIB, which is responsible for identifying suitable candidates for senior management roles in public sector banks, conducted interviews with a selection of senior banking professionals. Candidates were evaluated on performance, professional background, and compliance with established selection criteria, ultimately leading to Chandra’s recommendation for the top role at PNB.
Ashok Chandra’s Banking Journey: From Probationary Officer to Executive Leader
Shri Ashok Chandra began his banking career in 1991 as a Probationary Officer with the former Corporation Bank. Holding a Master’s degree in Economics and certification as an Associate of the Indian Institute of Bankers, he quickly rose through the ranks, amassing a wealth of experience across diverse roles.
Chandra’s career has spanned various banking sectors, including rural, urban, and metro branch operations, where he served as a Branch Head. His portfolio expanded further as he led zones and regions nationwide, demonstrating a strong understanding of the industry’s demands in diverse demographics.
International Exposure and Leadership in Recovery & Stressed Asset Management
Chandra’s career also includes international experience, having managed the bank’s operations at a representative office in Dubai, UAE. This overseas role allowed him to gain insights into the global banking landscape and contributed to his understanding of international banking operations.
After his elevation to General Manager in 2018, he led the Recovery, Legal, and Stressed Asset Management (SAM) department. His leadership in this domain continued even after his promotion to Chief General Manager at Union Bank of India in 2020. His work in this challenging area earned him recognition for his contributions to asset management and recovery strategies.
Recognitions and Training in Leadership
Throughout his career, Chandra has earned numerous accolades for his performance. Awards include the Star Performers Club, Grahak Seva Award, Grahak Mitra Award, and Leadership Award, among others. His contributions to the banking sector are further underscored by his participation in high-level leadership programs and numerous training sessions, both domestically and internationally.
In 2021, he was appointed Director in Union Trustee Company Private Limited and NARCL and was part of the “Standing Committee on Stressed Assets” by the Indian Banks’ Association (IBA). These roles further highlight his extensive experience in overseeing and managing banking operations at an executive level.
Current Role and New Opportunity
Ashok Chandra is currently serving as the Executive Director of Canara Bank, a position he has held since November 2022. With his extensive experience in both domestic and international banking and proven leadership in asset management and recovery, he is poised to lead PNB toward new heights as its MD and CEO.
Next Steps
The FSIB’s recommendation will now go through the approval process by the relevant authorities. Should his appointment be confirmed, Chandra will bring decades of experience and a deep understanding of banking operations to PNB, a bank known for its significant role in India’s financial landscape. His leadership is anticipated to guide PNB in navigating current challenges and achieving future growth.
A Person with capability is selected. Congratulations. His knowledge will improve the PNB.