M B N Rao becomes Indian Bank CMD
Chennai: M B N Rao, executive director of the Chennai-based Indian Bank, has taken charge as its chairman and managing director (CMD) on Thursday. He replaces Ranjana Kumar, who has since moved to head Nabard. Rao has been associated with the bank since 1970 and has played a crucial role in charting a strategy to revive the bank from the financial quagmire that it was a few years ago.

Rao joined the bank as a probationary officer in 1970 and held various positions, which included advising Bank PT Rama, Jakarta, Indonesia, for a period of four years. He also headed Indian Bank's Singapore branch during which he was instrumental in the branch becoming the first SWIFT member among the south Asian banks. As a general manager he oversaw all areas of operations of the bank.
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