August 30, 2021 02:03 PM
State-run Bank of India on Monday said the government has extended the term of its executive director P R Rajagopal by two years. The central government vide notification No. dated 26 August 2021 extended the term of office of P R Rajagopal, Executive Director of the Bank for a period of two years, beyond his currently notified term or until further orders, whichever is earlier, the bank said in a regulatory filing.
His current term was to expire on February 28, 2022. The government last week extended the term of executive directors of various public sector banks. It also extended the terms of MD & CEOs of Punjab National Bank and Bank of Maharashtra.
Bank of India (BOI) is an Indian nationalised bank. It is under the ownership of Ministry of Finance, Government of India with headquarters in Bandra Kurla Complex, Mumbai. Founded in 1906, it has been government-owned since nationalisation in 1969. BoI is a founder member of SWIFT (Society for Worldwide Inter Bank Financial Telecommunications), which facilitates provision of cost-effective financial processing and communication services.
As on 31 March 2021, Bank of India’s total business stands at Rs 1,037,549 crore (US$150 billion), has 5,108 branches and 5,551 ATMs across the world (including 24 overseas branches).