PS Jayakumar appointed as MD and CEO of Bank of Baroda

Oct 14, 2015, 15:42 IST

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

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

Jagran Josh
Jagran Josh

Education Desk

    Your career begins here! At Jagranjosh.com, our vision is to enable the youth to make informed life decisions, and our mission is to create credible and actionable content that answers questions or solves problems for India’s share of Next Billion Users. As India’s leading education and career guidance platform, we connect the dots for students, guiding them through every step of their journey—from excelling in school exams, board exams, and entrance tests to securing competitive jobs and building essential skills for their profession. With our deep expertise in exams and education, along with accurate information, expert insights, and interactive tools, we bridge the gap between education and opportunity, empowering students to confidently achieve their goals.

    ... Read More
    Get here latest daily, weekly and monthly Current Affairs and GK in English and Hindi for UPSC, SSC, Banking, Railway, Defence and exams. Download Jagran Josh Current Affairs App.

    Take Weekly Tests on app for exam prep and compete with others. Download Current Affairs and GK app

    AndroidIOS

    Trending

    Latest Education News