Matam Venkata Rao Assumes Charge As MD & CEO Of Central Bank Of India

State-run Central Bank of India on Monday said Matam Venkata Rao has taken charge as its new Managing Director and Chief Executive Officer.

Rao till now held the position of Executive Director at Canara Bank.

His appointment is for a period of 3 years with effect from the date of assumption of office on or after March 1, 2021, or until further orders, whichever is earlier, Central Bank of India said in a regulatory filing.

'Matam Venkata Rao assumed charge of Managing Director and Chief Executive Officer of Central Bank of India w.e.f. today i.e. 01st March, 2021,' said the lender.

Earlier today, Canara Bank informed that Rao will cease to be the bank's Executive Director from March 1, 2021.

Born on July 3, 1965, Venkata Rao is a post graduate in agriculture from Sri Venkateshwara Agriculture College, Tirupati, Andhra Pradesh.

He is a Certified Associate of Indian Institute of Bankers.

As the Executive Director of Canara Bank for more than three years, he played a pivotal role in the bank's progress and in amalgamation of Syndicate Bank with Canara Bank.

A seasoned banker with varied experience, Rao joined Allahabad Bank as Agricultural Field Officer in 1988, and worked in various capacities in different geographical areas of the country.

As General Manager of Allahabad Bank, he headed the Bank's important verticals like Wholesale & Retail Banking.

He was also instrumental in launching a transformative project in Allahabad Bank to bring focus on Asset-centric banking.

(PTI)