The Union Government on 1 February 2016 appointed Jai Kumar Garg as Managing Director (MD) and Chief Executive Officer (CEO) of Corporation Bank for a period of three years.
Garg took charge of the public sector bank on 1 February 2016, succeeding S R Bansal, who superannuated from services as CMD on 31 January 2016.
Who is Jai Kumar Garg?
• Garg is a chartered accountant and also associate member of Indian Institute of Banking and Finance.
• Prior to his appointment at Corporation Bank, he worked as executive director in UCO Bank.
• He started his career at Corporation Bank in 1986.
• He has experience in credit management, recovery, forex operations, retail banking and administration.
About Corporation Bank
• Corporation Bank is a public sector banking company headquartered in Mangaluru, India.
• It was founded on 12 March 1906 in the Temple Town of Udupi, by a small group of philanthropists led by Khan Bahadur Haji Abdulla Haji Kasim Saheb Bahadur.
• It is the oldest banking institution in the erstwhile undivided South Canara District of the Madras Presidency.
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