Board of Directors

Shri Ashutosh Choudhury is a MBA professional and is also a Certified Associate of Indian Institute of Bankers. He has rich banking experience of more than 2 decades. Prior to joining as Executive Director of Indian Bank, he was serving as Chief General Manager & Group CRO of Punjab National Bank.

Shri Ashutosh Choudhury rose through ranks serving various offices of four Public Sector Banks viz. Punjab National Bank, Oriental Bank of Commerce, United Bank of India and Allahabad Bank. His work experience includes working in Enterprise Risk Management, Strategic Planning, MSME & Retail Credit, Profit Centric Operations, Fintech & Digital Banking, Treasury, Corporate Credit, Micro Finance & Financial Inclusion, Balance Sheet Management.

He has also completed Executive Leadership Development Programme of IIM Bangalore.

He has also served as Director in the Board of PNB Gilts, a subsidiary of PNB, functioning as Primary Dealer (PD) in Indian capital & debt market.

Shri Binod Kumar assumed charge as Managing Director and Chief Executive Officer of Indian Bank on 16th January 2025. Prior to this, he served as Executive Director of Punjab National Bank (PNB) from 21st November 2022 to 15th January 2025.

Shri Kumar is a science graduate from Ranchi University and holds a Post Graduate Diploma in Banking & Finance from NIBM. He is a Financial Risk Manager (FRM) certified by GARP (USA) and a Certified Associate of the Indian Institute of Bankers (CAIIB).

Beginning his banking career as a Management Trainee with PNB in 1994, Shri Kumar brings over 30 years of extensive and diverse banking experience. His expertise spans various domains, including Branch and Administrative Office operations, Risk Management and Corporate Credit. As Executive Director of Punjab National Bank(PNB) he was holding responsibility of Corporate Banking, Treasury Division, International Banking Division, Finance Division, Data Analytics & Data warehousing.

He has served as the Chief Executive Officer of PNB’s Dubai International Financial Centre(DIFC) branch and previously held the position of Chief General Manager, heading the Corporate Credit Division of PNB.

Shri Kumar also holds Diploma in Treasury, Investment & Risk Management and Banking & Finance from the Indian Institute of Banking & Finance (IIBF). Additionally, he has completed Leadership Skills Development Program at IIM Bangalore.

Dr. Alok Pande is a Senior Civil Servant specializing in the world of Finance. An officer of the 1994 batch of the Indian Postal Service (Civil Services Exam, 1993) he is currently working as Additional Secretary to Government of India in the Department of Investment and Public Asset Management (DIPAM), Ministry of Finance. He has earlier worked as Joint Secretary DIPAM (2019-23) and Director DFS (2011-16), in the Ministry of Finance.

Dr Pande did his Bachelors in Engineering (Mechanical) from NIT Allahabad where he was a Gold medallist and his FPM(Doctorate) from IIM Bangalore in the area of Capital Markets. His FPM thesis was awarded the NSE Award for “Best Thesis in Financial Economics’.  He also won the Marie Curie Fellowship to go to Manchester Business School (UK) as a part of his Doctorate.

In his present assignment he is handling a crucial assignment of the disinvestment of Government and LIC’s equity from IDBI Bank.

As Joint Secretary, he handled the prestigious IPO of Life Insurance Corporation of India in May 2022 which was India’s largest IPO. In 2020-21, amidst Covid times, he was instrumental in the listing of 3 companies-Mazagon Dock Limited, IRFC and RAILTEL.

With an experience of more than 29 years, Dr Pande has handled various positions in the Government of India. Before moving to the Ministry of Finance, he was handling the IT project of Department of Posts as Deputy Director General. This IT Project has enabled digitisation to reach more than 128000 villages in the country.

Prior to that, he was instrumental in the launch and execution of the Pradhan Mantri Jan Dhan Yojana (PMJDY) as Director in the Department of Financial Services of the Ministry of Finance. The Jan Dhan Aadhar Mobile (JAM) Trinity today has transformed not only the payments landscape but also that of Direct Benefit Transfers and stands out in the world as a fine example of the Digital Public Infrastructure (DPI).

He has been a Board Member of the Indian Overseas Bank from 2011-16 and is presently on the Board of  Specified Undertaking of the Unit Trust of India (SUUTI).

Dr Pande has published in two of the prestigious Journals in the world of Finance-Journal of Corporate Finance and Journal of Financial Markets.

Smt K Nikhila holds a Post Graduate Degree from Utkal University, Bhubaneswar. She is a Certified Associate of the IIB&F. She joined the Reserve Bank of India in 1995 as an Officer. Over the last 28 years, she served in various capacities in RBI’s Regional Offices at Chennai, Hyderabad & Navi Mumbai and also in various Central Office Departments in Mumbai. Her areas of expertise include Supervision, Enforcement, Information Technology, Consumer Protection, Financial Inclusion and Currency Management. She was a member of the Sub-group on Financial Consumer Protection and Financial Literacy at the Global Partnership for Financial Inclusion for an year.She also briefly held the post of Director, IDRBT. She was on deputation for a year to the Government of combined Andhra Pradesh as Officer on Special Duty.She is presently the Regional Director of RBI for the State of Telangana.

Shri Shiv Bajrang Singh is a Post Graduate and a MBA professional. He is also a Certified Associate of Indian Institute of Bankers. He has completed Leadership Development Programme of IIM for Senior Management of Public Sector Banks.

He has rich banking experience of more than 3 decades. During his tenure, he worked in all key banking functions in various capacities viz., Rural, Treasury & FX, MSME, HRM, Business Process Re-engineering.

Shri Singh has business development background which comes from his strategic positioning as Zonal Manager and Deputy Zonal Manager. He has also worked in various verticals at the administrative offices.

At the Corporate level, he has steered the MSME Department, Finance, Planning & Strategic Intelligence and Human Resource Department with his expertise.

He has also served as Chairman of RRB-Arayavart Bank for a period of 5 Years. He is actively involved in academics also with more than 45 publications in Journals of national and international repute. He has served as visiting / guest faculty to Apex Training Institutes of the Industry such as Bankers Training College (RBI), National Institute of Bank Management (NIBM) and Bankers Institute of Rural Development (BIRD).

Shri Shri Brajesh Kumar Singh Has Assumed Charge As Executive Director, Indian Bank On 10th March 2024.
Shri Brajesh Kumar Singh is an Agriculture graduate from Allahabad Agriculture Institute and MBA Finance. He is also a Certified Associate of Indian Institute of Bankers.

He has rich banking experience of more than 28 years. Prior to joining as Executive Director of Indian Bank, he was serving as Chief General Manager HR of Bank of Baroda. He has also completed Executive Leadership Development Programme at IIM Bangalore.

Shri Brajesh Kumar Singh has worked in various strategic positions viz. Credit Officer, Branch Head, Loan Factory Head, Regional Head, Zonal Head. He was also Convenor of State level Bankers Committee. His business exposure includes Overseas tenure at Durban, South Africa. At Corporate Office, he has steered Retail Assets and Human Resource Management departments with his rich expertise.

He has also served as Director in the Board of Bank of Baroda UP Gramin Bank.

Shri Pradeep Kumar Malhotra has assumed the Office as Shareholder Director of the Bank on 09.03.2024 and shall hold Office for a period of 3 years i.e. upto 08.03.2027.
Shri Pradeep Kumar Malhotra, Managing Director & CEO of IDBI Trusteeship Services Limited, deputed by LIC of India. He has rich experience of over three decades in various capacities including in Individual & Corporate Marketing, LIC Housing Finance Limited, Legal & Corporate Strategy and Investment functions of Life Insurance Corporation of India.
He has more than 12 years of experience in managing diverse Investment Functions such as Debt, Equity, Treasury and ULIP Fund Management. He has also represented LIC of India, his parent company on the Advisory Board/Investment Committee of many Venture Funds. He was secretary in the high powered Investment Committee of LIC of India.
He has also worked as Chief (Legal) in the Corporate office of LIC of India overlooking various legal functions of the financial behemoth. He is a qualified Engineer, Graduated from Delhi College of Engineering besides being a Fellow of Insurance Institute of India.
He has reached highest level in NSE Certification of Financial Market (NCFM) and is also a qualified Company Secretary (Executive level). He has attended different Leadership programs from ISB, IIM Ahmedabad and other premium Institutions; and has attended various seminars conducted in India and overseas.

Shri Balmukund Sahay was Part-time Non-Official Director of our Bank for a period of three years, i.e. from 21.12.2021 to 20.12.2024. The Central Govt. vide Gazette notification dated 11.04.2025 re-nominated him as Part-Time Non Official Director of our Bank for a period of one year with effect from 11.04.2025.

Shri Balmukund Sahay is a post graduate in Commerce from Ranchi University.

He was an active member of Jharkhand State Transport Authority from 2001 to 2004 and member of Jharkhand State Level 20 Points Programme Committee from 2016 to 2019. As a member of Jharkhand State Transport Authority, he had a role to promote rural economy and improve transportation sector.

He is a social activist and as a member of Jharkhand State Level 20 Points Programme Committee, he was focusing on encouraging Agriculture, Rural Economy, Small Scale Industries & Information Technology and alternative dispute resolution. Poverty alleviation, facilitating government schemes to beneficiaries were also his subject of interest.

Shri Sanjeev Krishnagopal Maheshwari is a Chartered Accountant and has more than 38 Years’ experience of practice in the field of Audit, Taxation and Management Consultancy. He was a member of the Central Council of Institute of Chartered Accountants of India (ICAI) for 9 years and Chairman of Accounting Standards Board of ICAI, for 3 years during which he was instrumental in formulation of Ind AS and played a key role in rolling out of Standards. He has served on most of the technical committees as Chairman or member at ICAI. He has also served as the member of Quality Review Board constituted by Ministry of Corporate Affairs and been a member on several committees of South Asian Federation of Accountants.

He was Part Time Non-Official Director on the Central Board of State Bank of India from 20.12.2019 to 19.12.2022.

With an honours degree from Shri Ram College of Commerce, ICWA and a PGDM (MBA) from the Indian Institute of Management, Bangalore, Shri Bhupinder Singh Bhalla worked in corporate finance for three years before joining the Indian Administrative Service (IAS) in 1990.

Till recently, he was working as Technical Member, Appellate Tribunal for Electricity, Government of India. Earlier, as the Secretary of the Ministry of New and Renewable Energy till he retired in Sep 2024, he was responsible for driving India’s energy transition through massive scale-up of the renewable energy sector. His notable accomplishments include launch of the National Green Hydrogen Mission and the PM Surya Ghar: Muft Bijli Yojana; impetus to solar manufacturing; and kick-starting the offshore wind development in the country. He has also worked at other key positions at the Government of India. As Joint Secretary, and then as Additional Secretary, Ministry of Commerce & Industry for over five years, he was responsible for India’s trade negotiations with the neighbouring countries. In addition, he worked as Director General, Trade Remedies and led the India Brand Equity Foundation as its CEO. He has also worked as Counsellor (Economic) in the Indian Embassy at Washington DC, USA where he spearheaded the India-US bilateral engagements in finance, energy and agriculture for over three years. Earlier, as Director, Department of Financial Services Ministry of Finance, he played a role in several major initiatives in India’s banking sector, and served as Government Nominee Director on the board of Union Bank of India from 24 January 2005 to 10 June 2008.

As a member of the Union Territory cadre of the IAS, he has had memorable stints in diverse fields across Delhi, Goa, Daman & Diu, Andaman & Nicobar Islands and Chandigarh, including as the Administrator, Union Territories of Daman & Diu and Dadra & Nagar Haveli, where he served as the constitutional and administrative head.

As a Fellow Member of the Institute of Cost Accountants of India, he has been conferred with the inaugural CMA Ratna Award 2016 by the Institute for significant contribution to the cause of society and the profession as a policymaker.