Canara Bank has informed that in exercise of the powers conferred by clause (a) of sub-section (3) of section 9 of The Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970/1980, read with sub-clause (1) of clause 3 and sub-clause (1) of clause 8 of the Nationalized Banks (Management and Miscellaneous Provisions) Scheme, 1970/1980, the Central Government, after consultation with the Reserve Bank of India, has appointed Rakesh Sharma, MD&CEO of Lakshmi Vilas Bank Ltd., as MD&CEO of Canara Bank, for a period of three years with effect from the date of his assumption of charge of the post or up to July 31, 2018 that is, till the date of his superannuation on attaining 60 years of age of or until further orders, whichever is earliest, vide notification dated August 14, 2015. The appointment is subject to outcome of Writ Petition (C) No. 225 of 2015 in the Supreme Court in the matter of K.D. Khera Vs Union of India & Others. He has taken charge as Managing Director & CEO of the Bank with neffect from September 11, 2015.
The above information is a part of company’s filings submitted to BSE.
