K R Kamath, chairman and managing director (CMD) of Punjab National Bank, will become the new chairman of the India Banks' Association (IBA) for 2012-13. He will take charge on October 1, after present Chairman Alok Misra, CMD of Bank of India (BOI), completes his term.
The management committee chose Kamath to head the body at its meeting, said a senior IBA official. T M Bhasin, CMD of Indian Bank, is inducted as deputy chairman. The other two deputy chairpersons are Bhaskar Sen, CMD, United Bank of India, and Chanda Kochhar, managing director and chief executive of ICICI Bank.
Kamath came to PNB in October 2009 from Allahabad Bank, where he was CMD since August 2008. Kamath joined Corporation Bank in 1977 and then moved to Bank of India as executive director in May 2006.
At Corporation Bank, Kamath was promoted to executive cadre in 1994 and became regional manager for collection and payment services. In 2002, he was elevated to the post of general manager-in charge of information technology, information security and management information system and integrated risk management.
He is director on the board of Oriental Insurance Co Ltd and Export Credit Guarantee Corp of India Ltd.
He is the member of governing councils of Indian Institute of Banking and Finance and Institute of Banking Personnel Selection.