The Bank of India has announced the appointment of MR Kumar and Rajiv Mishra in leadership roles. Kumar and Mishra have been appointed as Non-Executive Chairman and Executive Director, respectively.
Kumar, a science graduate from the University of Madras, who also serves on the board of directors at Ambuja Cements Ltd, will be responsible for overseeing the overall growth trajectory of the bank.
He joined the Life Insurance Corporation of India in 1983 and headed its three zones: the southern zone in Chennai, the north-central zone in Kanpur, and the northern zone in Delhi. He also served as the Chairman of LIC India from 2019 to March 2023. In his tenure as the Non-Executive Chairman of IDBI Bank, Kumar was instrumental in transforming the bank from a loss-making entity to a profitable one.
Kumar also served as a Director on the Boards of Kenindia Assurance Co. Ltd, Kenya, and ACC Ltd., India. His leadership acumen was further demonstrated through his tenure as Chairman of the Governing Board at the National Insurance Academy, alongside serving as President of the Insurance Institute of India, and as Chairman of the Council of Insurance Ombudsman, showcasing his significant contributions to the insurance and banking sectors.
On the other hand, Rajiv Mishra who is the Executive Director of Bank of India, brings more than two decades of experience to the organisation. A BE, MBA graduate and a Certified Associate of both the Indian Institute of Bankers and the Insurance Institute of India has a comprehensive background in Digital, Analytics & IT, Retail and MSME Credit, Large Corporates, Recovery, and Treasury.
Mishra has also served on the boards of Kashi Gomti Samyut Gramin Bank in Varanasi, and UBI Services Ltd.
At the Bank of India, Mishra will be responsible for managing stressed asset resolution and recovery, including policy matters. His purview extends to critical areas such as Information Technology, Digital Banking Department (including Transaction Banking), Digital Analytics, Digital Lending Department, and General Operations, which encompasses Centralized Back Office and Rajbhasha.
