After interviewing 15 candidates, the Financial Services Institutions Bureau (FSIB) has recommended Binod Kumar for the post of managing director and CEO of Chennai-based Indian Bank. 

Kumar, who is serving as executive director of Punjab National Bank, will replace S L Jain on his superannuation next month. 

The FSIB in a statement said it interviewed 15 candidates for the forthcoming post and “keeping in view their performance in the interface, overall experience and the extant parameters”, recommended Binod Kumar for the position of MD & CEO in Indian Bank. The FSIB is the headhunter for directors of state-owned banks and financial institutions.

Earlier in April, the FSIB had selected Asheesh Pandey for the role, but this was deferred and fresh interviews were conducted after the Reserve Bank of India (RBI) raised some reservation over the suggestion. He is currently the ED of Bank of Maharashtra.

The final decision on the appointment will be taken by the appointments committee of the Cabinet headed by Prime Minister Narendra Modi.

FSIB is headed by former Department of Personnel and Training Secretary Bhanu Pratap Sharma.

Other members include former chairman and MD of erstwhile Oriental Bank of Commerce Animesh Chauhan, former executive director of RBI Deepak Singhal and ex-MD of erstwhile ING Vysya Bank Shailendra Bhandari.