BusinessWho is the new MD and CEO of PNB Atul Kumar Goel,...

Who is the new MD and CEO of PNB Atul Kumar Goel, why is it in the news?

The Appointments Committee of the Cabinet (ACC) of the government has approved the appointment of Atul Kumar Goel as MD and CEO of Punjab National Bank.

Atul Kumar Goel is currently the MD and CEO of UCO Bank. Goyal’s charge will be effective from February 1 next year. Atul Kumar Goel will continue as the chief of PNB till December 31, 2024.

Punjab National Bank is the second largest public sector bank in the country. Atul Kumar Goel will serve as Officer on Special Duty (OSD) in PNB till January 31, 2022. Goyal will replace Mallikarjuna Rao in PNB who is currently serving as both MD and CEO.

In September this year, the Banks Board Bureau (BBB) ‚Äč‚Äčrecommended Atul Kumar Goel’s name for the post of MD and CEO of PNB. Since then there was a buzz that he would be the next head of Punjab National Bank. The government’s ACC has taken another similar decision for UCO Bank.

Soma Shankar Prasad, the current Deputy Managing Director of State Bank of India, has been appointed as the MD and CEO of UCO Bank. Presently this post is with Atul Kumar Goel. On the other hand, Goyal will become the MD of PNB and Soma Prasad will take over the same responsibility in UCO Bank.

The government-formed committee, ACC, appoints the heads of state-run banks and financial institutions and for the rest of the posts. Recruitment is done for these posts from time to time. ACC has invited applications for the MD & CEO post of Union Bank. The tenure of MD and CEO of Union Bank will be 3 years. Right now this responsibility in Union Bank is handed over to Rajkiran Rai ji and but his tenure is ending on May 2022.

Atul Kumar Goel is currently the Managing Director and CEO of UCO Bank. He was earlier Executive Director of Union Bank. He is a member of the Institute of Chartered Accountants of India or ICAI. From 2016 to November 2018, he was the Executive Director of Union Bank. Prior to that he was working as CAFO, General Manager-F&A, Compliance Officer and IR in Allahabad from 7.2013 to 9.2016.

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