IDBI Bank appoints Deputy Managing Director
Suresh Khatanhar has taken charge as IDBI Bank’s Deputy Managing Director, effective from January 15, 2020, for the next 3 years. Prior to his role as DMD, he was working with IDBI Bank as an Executive Director leading Mid Corporate Group and Trade Finance.
He has been with IDBI Bank for a span of 22 years, wherein he was responsible for managing varied aspects of commercial banking. Prior to joining IDBI Bank in 1997, he was associated with Dena Bank.
Khatanhar has a cumulative experience of 35 years and has worked in commercial banking environments such as Retail Banking Business, Priority Sector Lending, Corporate Banking (Mid corporate and Large corporate), service oriented functions such as Trade Finance, Risk Management, Audit Management, Compliance, Credit Management & Monitoring and other facets of commercial banking.
LIC-controlled IDBI Bank is also expected to come out of the Prompt Corrective Action (PCA) framework in the last quarter of the current fiscal. While, the bank has already come below net NPA threshold of 6 percent one of the three parameters for triggering PCA framework, it would still remain a key priority for Khatanhar as he takes over.
Even the government is investing in the bank to accelerate its growth. Recently, Parliament approved Rs 9,300 crore capital infusion in IDBI Bank. The department of financial services got an additional Rs 4,557 crore for infusion into IDBI Bank through recap bonds for their share of 47.11 per cent in IDBI Bank.
As the new Deputy MD, Khatanhar’s key priority would be to get the bank out from the weak bank watch list by the end of the current fiscal.