Bank of Baroda on Thursday, April 23, has announced the extension of the tenure of Debadatta Chand as managing director and chief executive officer for a period of three years.
The extension has been approved by the central government and will take effect after the completion of his current term, which is scheduled to end on June 30, 2026. The renewed tenure will continue for three years beyond the existing term, or until further orders, whichever is earlier.
The decision has been made under the provisions of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, along with the Nationalised Banks (Management and Miscellaneous Provisions) Scheme, 1970. The bank disclosed the development through a regulatory filing in compliance with SEBI (LODR) Regulations.
Debadatta Chand has been leading Bank of Baroda as MD and CEO, and the extension ensures continuity in leadership at the state-owned lender, ensuring administrative continuity. The move provides stability in the bank’s top management.
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The announcement pertains specifically to the extension of tenure and does not include any additional changes in the bank’s management or governance framework. The regulatory communication was formally addressed to stock exchanges, notifying them of the development.
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Shares of Bank of Baroda closed lower on the NSE at ₹276, down ₹6.77 or 2.39% in today’s trade.
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(Edited by : Shoma Bhattacharjee)
