The Bank of India has announced that Rajneesh Karnatak has been appointed as the Managing Director and Chief Executive Officer. Rajneesh Karnatak has more than 29 years of experience.
Before being appointed executive director of Union Bank of India on October 21, 2021, he served as chief general manager of Punjab National Bank. He has a Master of Commerce degree and is an associate certified from the Indian Institute of Bankers (CAIIB).
As general manager of Oriental Bank of Commerce, he oversaw crucial divisions like large corporate credit branches and strategic verticals like credit monitoring, digital banking, and mid-corporate credit throughout his banking career.
He oversaw both the corporate credit division and the credit monitoring division at Punjab National Bank, following the merger of Oriental Bank of Commerce. He has extensive experience in working capital funding, project funding, and risk management, with a focus on credit risk in particular.
On behalf of Union Bank of India, Karnatak has served as non-executive chairman of UBI Services. Additionally, he has held a non-executive non-independent directorship on the board of UBI (UK). He served on the Indian Institute of Bank Management’s (IIBM) Guwahati board of directors.
He has served as a nominee director on the boards of PNB Housing Finance and India SME Asset Reconstruction Company on behalf of Punjab National Bank. He was also a trustee on the board of IIFCL Asset Management Co.
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