Central Bank of India managing director and chief executive officer MV Rao has been elected as the chairman of the Indian Banks' Association (IBA).

The managing committee of the IBA at its meeting held on Thursday also elected State Bank of India chairman Dinesh Kumar Khara, Indian Bank managing director and chief executive S L Jain, and City Union Bank managing director and CEO N Kamakodi as vice-chairmen of the lobby group.

They also elected Madhav Nair, the country head and CEO of Bank of Bahrain and Kuwait as the honorary secretary, the association said in a statement.