RBI approves Partha Pratim Sengupta as MD and CEO of Bandhan Bank

by Psu Connect
Date: 14-10-24

He has been appointed to the post for three years from the date of taking charge, which should not be later than November 10.

New Delhi: The Reserve Bank of India has appointed Partha Pratim Sengupta as the MD & CEO of Bandhan Bank. He has been appointed to the post for three years from the date of taking charge, which should not be later than November 10. The lender has informed the stock exchanges about this appointment.

“The Bank has received the acceptance of Mr. Sengupta on October 9, 2024, and subsequent confirmation on October 10, 2024, that he will step down from his other engagements in compliance with the terms and conditions of the prior approval for the proposed appointment as MD&CEO of the bank,” the exchange notification said.

In April this year, Bandhan founder Chandra Shekhar Ghosh, who was the MD & CEO, decided to hang up his boots by announcing a surprise retirement. Ratan Kumar Kesh, one of the executive directors, was appointed an interim CEO.

Sengupta, who has four decades of experience in the banking industry, was groomed at SBI where he rose to the role of deputy managing director and chief credit officer. He took charge as the MD & CEO of Indian Overseas Bank (IOB) in July 2020. He is credited to have turned around the Chennai-based lender and brought it out of the prompt corrective action (PCA) framework. He retired from IOB in December 2022.

“In both his stints, at SBI and IOB, he has leveraged technology and innovation for achieving business results,” Bandhan said.

In June last year, BharatPe nominated Sengupta on the board of Unity Small Finance Bank. Sengupta has worked in different geographies, across both retail and corporate banking. Some of his areas of specialization are risk management and compliance, treasury, and human resources, among others. Sengupta holds a B.Sc and B.Ed degree and is a certified associate of the Indian Institute of Bankers.