New Delhi: The central government Satyanarayana Raju has been appointed as the new Chief Executive Officer (CEO) and Managing Director (MD) of public sector Canara Bank. Raju, currently serving as the executive director of the bank, will replace LV Prabhakar.
The bank said in a statement released on Tuesday that K Satyanarayan Raju has been appointed with immediate effect. Raju has been appointed in place of LV Prabhakar, whose tenure ended on December 31, 2022. Raju was working as Executive Director in Canara Bank from March 10, 2021.
According to a Canara Bank statement, the newly appointed CEO and MD Raju has vast experience across all segments of the banking sector. Raju is a graduate in Physics and a postgraduate in Business Administration (Banking and Finance). The Financial Services Institutions Bureau (FSIB) had suggested Raju’s appointment to the post in November 2022 to the government. The final decision on the recommendation of the FSIB is taken by the Appointments Committee of the Cabinet headed by the Prime Minister.
