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Jayakumar’s term as BoB chief ends

The term of P.S. Jayakumar as MD and CEO of Bank of Baroda ended on 12 October as the government did not extend his tenure to oversee the task of integration of the Dena Bank and Vijaya Bank with it. It is now expected that the government may announce a successor for him soon. Jayakumar was one of the 2 private banking professionals selected to manage 2 top public sector banks, the other being Rakesh Sharma who headed Canara Bank before his retirement. He is now MD and CEO of IDBI Bank. Jayakumar had received a one-year extension after his initial 3-year term ended on 12 October 2018. Bank of Baroda is still in the process of integration of the 2 acquired banks to create the third-largest in India after State Bank of India and HDFC Bank. The merger was completed in April.

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