IDBI Bank got a new Chairman and Managing Director (CMD) after the post was lying vacant since May 31.
MS Raghavan assumed the charge as CMD of IDBI Bank. Prior to the current assignment, Raghavan was the Executive Director with Bank of India (BoI), with effect from 1 January 2012. Before joining BoI, he was General Manager at Indian Overseas Bank (IOB) based in Chennai.
Born on 8 June 1955, Raghavan is a science graduate and a post-graduate diploma holder in management and financial management. He had joined IOB as a probationary officer on 11 October 1976.
In a career spanning 36 years with IOB, Raghavan served in important verticals like human resources management, risk management, corporate credit, Information Technology and compliance. He was credited for implementing core banking solutions at IOB.
At present, Raghavan is a member of Working Group on Model e-governance Plan for Indian Banks' Association (IBA) under Department of Financial Services; IBA Committee on Payment Systems & Banking Technology for the year 2012-13 and many others.