The Reserve Bank of India has approved the appointment of Partha Pratim Sengupta as the managing director & CEO of Bandhan Bank for a period of three years.

Sengupta’s three-year tenure counts from the date of taking charge, which shall not be later than November 10, 2024, Bandhan Bank said in a regulatory filing.

The bank has received the acceptance of Sengupta on October 9, 2024 and subsequent confirmation on October 10, 2024 that he will step down from his other engagements in compliance with the terms and conditions of the prior approval for the proposed appointment as MD & CEO of the Kolkata-based lender, it said.

Sengupta replaces founder MD and CEO Chandra Sekhar Ghosh who stepped down on July 9. Currently, Ratan Kesh, one of the executive directors, is serving as the interim MD and CEO.

Having over four decades of experience, Sengupta retired as managing director & CEO of state-owned Indian Overseas Bank (IOB) in December 2022. Joining in July 2020, he turned around the bank and lifted it out of the prompt corrective action (PCA) framework. 

He has worked in different geographies, across both retail and corporate banking. He has been groomed at State Bank of India (SBI), where he rose to the role of deputy MD and chief credit officer of the bank in 2018.