The Indian Banks' Association (IBA) has elected UCO Bank managing director A K Goel as its chairman for the term 2021-22.

Goel takes over from Union Bank managing director and CEO Rajkiran Rai G as head of the IBA.

The managing committee at its meeting held on October 14 elected new chairman and other office bearers for 2021-22, IBA said in a statement.

Last month, the Banks Board Bureau had recommended Goel for the post of the managing director of Punjab National Bank (PNB). He would take up the new responsibility at PNB after clearance from the Appointments Committee of the Cabinet (ACC) headed by the Prime Minister.

The managing committee of IBA also elected State Bank of India (SBI) chairman Dinesh Kumar Khara, Canara Bank MD L V Prabhakar and IDBI Bank MD Rakesh Sharma as deputy chairmen.

Madhav Nair, country head of Mashreqbank PSC, was elected as honorary secretary of IBA.