Fraser will succeed Mike Corbat, who is retiring in February after more than eight years in the top job, the New York-based bank said in a statement
Move follows fines imposed yesterday on Bank of India (Rs 5 crore), Karnataka Bank (Rs 1.2 cr) and Saraswat Co-operative Bank (Rs 30 lakh)
'Volatility is here to stay in the near term, for Indian as well as global markets, as a lot is still unknown about the future trajectory of the coronavirus pandemic and lockdowns across the globe'
RBI had ordered a moratorium of three months on EMIs
The curbs come as coronavirus infections have soared across northern Italy over the past few days, causing seven deaths and nearly 300 cases
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