Suresh Kishinchand Khatanhar re-appointed as Deputy MD of IDBI Bank for one year

The Board of Directors of IDBI Bank has once again appointed Suresh Kishinchand Khatanhar as the Deputy Managing Director (DMD) on December 28. The tenure of his service in this role will be effective for a period of one year with effect from January 15, 2023, as per approval of the RBI received in this regard.

Suresh Khatanhar is not related to any other Director on the Board and KMP of the Bank. “It is further confirmed that Shri Suresh Khatanhar, DMD is not debarred from holding the office of director by virtue of any SEBI order or any other such authority,” the bank said in its press release.

With an experience of nearly four decades as a banker, Suresh Khatanhar started his banking career with Dena Bank and handled branch banking, Credit Appraisal/ Monitoring, and Stressed Accounts, and represented the Bank at BIFR/AAIFR hearings. 

He was preliminarily appointed as Senior Relationship Manager at the IDBI Bank. Later when he took over the responsibility as the Executive Director at the IDBI Bank, he was assigned the responsibilities to head the Priority Sector business vertical of the bank.

The private sector bank stated that he is currently handling retail assets, credit cards, third-party distribution, and LIC synergy; retail liabilities, BOSPD and currency chest, priority sector group and financial inclusion, treasury and international borrowing, credit monitoring group, retail collection and recovery, audit, legal, centralized operations, corporate strategy and planning, and administration. 

IDBI Bank has been in the limelight for the past one year after the Finance Minister announced the sale of state equity of the bank. The government had on October 7 invited bids for privatizing IDBI Bank and said that, together with LIC, it will sell a total of 60.72 per cent stake in the financial institution. The government and LIC hold 94.72 per cent shares of the bank.