1. Home
  2.  |  
  3. News Capsule  |  

PS Jayakumar appointed as MD and CEO of Bank of Baroda

Oct 14, 2015 15:13 IST

PS Jayakumar on 13 October 2015 took over the charge of Managing Director (MD) and Chief Executive Officer (CEO) of state-owned Bank of Baroda. He has taken the charge when the bank is under the scanner for an alleged black money transactions worth over 6000 crore rupees.

On the other hand, Ravi Venkatesan, ex-chairman of Microsoft India, was appointed as the non-executive Chairman of the bank.

The alleged BoB scam

In the first week of October 2015, allegedly 6172 crore rupees were remitted from Bank of Baroda to Hong Kong. The amount was shown as payments for non-existent imports like cashew, pulses and rice. The amount was allegedly deposited in 59 accounts in cash as advance for imports that never existed.

Now get latest Current Affairs on mobile, Download # 1  Current Affairs App

Is this article important for exams ? Yes13 People Agreed
Read more Current Affairs on: Bank of Baroda , BoB , P S Jayakumar , Ravi Venkatesan

Register to get FREE updates

    All Fields Mandatory
  • (Ex:9123456789)
  • Please Select Your Interest
  • Please specify

  • ajax-loader
  • A verifcation code has been sent to
    your mobile number

    Please enter the verification code below

This website uses cookie or similar technologies, to enhance your browsing experience and provide personalised recommendations. By continuing to use our website, you agree to our Privacy Policy and Cookie Policy. OK