The PSU lender said that Swarup Kumar Saha assumed the charge as managing director & chief executive officer of the bank on 3 June 2022.
Saha's appointment as MD and CEO is for three years. Prior to his elevation, Saha was executive director of Punjab National Bank since 10 March 2021."In a career spanning over three decades, he has vast experience and expertise in Human Resource Development, Treasury, International Banking, Credit, Risk Management, Organization Restructuring and Board matters," the bank said in a statement.
Meanwhile, the Reserve Bank of India (RBI) vide its letter dated 3 June 2022 has imposed a monetary penalty of Rs 27.50 lakh on Punjab & Sind Bank. The penalty was imposed on account of the failure of the bank to comply with certain directions issued by RBI on 'External Benchmark Based Lending'.
Punjab & Sind Bank is a public sector bank. The Government of India held 98.25% stake in the bank as of 31 March 2022. It reported 115.2% jump in net profit to Rs 346.10 crore on a 2.9% rise in total income to Rs 2,007.90 crore in Q4 FY22 over Q4 FY21.
Shares of Punjab & Sind Bank fell 0.97% to end at Rs 15.30 on Friday, 3 June 2022.
Powered by Capital Market - Live News
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Quarterly Starter
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Access to Exclusive Premium Stories
Over 30 subscriber-only stories daily, handpicked by our editors


Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share


Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor


Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements


Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app