Government approves extension for MDs of Bank of Maharashtra, Central Bank of India

The government has granted approval for the extension of the tenures of managing directors at two public sector banks, namely Bank of Maharashtra (BoM) and Central Bank of India. 

The Appointments Committee of the Cabinet (ACC) has agreed to extend the term of A S Rajeev, who serves as the Managing Director and CEO of BoM, by an additional six months, ensuring his tenure continues until his superannuation, sources told PTI.

Furthermore, the ACC has also approved an extension for M V Rao, who holds the position of Managing Director and CEO at Central Bank of India, with his term now set to conclude on July 31, 2025. 

Rajeev assumed the role of MD and CEO at BoM in 2018, while Rao began his tenure as MD and CEO of Central Bank of India in 2021.

(With PTI Inputs)