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 appointed Shri R. Subramania Kumar (DOB: 15.06.1959), Executive Director, Indian Bank as Executive Director, Indian Overseas Bank with effect from his taking over the charge of the Indian Overseas Bank and upto 21.01.2019 or until further orders, whichever is earlier.

Government appointment of Executive Director: transfer and taking charge triggers tenure at a public sector bank until further orders. The Central Government, exercising powers under the acquisition and transfer framework and the nationalized banks management scheme, appointed Shri R. Subramania Kumar as Executive Director of Indian Overseas Bank, by transfer from his Executive Director post at Indian Bank, effective on taking over charge and continuing until a specified terminal date or until further orders, whichever is earlier.