The Appointments Committee of the Cabinet (ACC) approved the appointment of MR Kumar as a part-time non-official Director as well as Non- Executive Chairman on the Board of Bank of India for a term of three years. Kumar is the former chairman of Life Insurance Corporation of India.
Apart from Kumar, two other appointments were approved by the committee.
The committee also approved the appointment of Srinivasan Sridhar as part-time non-official Director as well as Non-Executive Chairman, on the Board of Indian Overseas Bank. This appointment is for a term of three years. However, the appointment is subject to the condition that he resigns from the Board of Bank of Baroda.
Aravamudan Krishna Kumar has also been appointed as a part-time non-official Director and Non-Executive Chairman on the Board of UCO Bank, for a term of three years. The appointment is subject to the condition that he resigns from the Board of Suraksha Asset Reconstruction Limited.
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