P Santhosh, Chief General Manager at Canara Bank, has been appointed as the Managing Director of National Asset Reconstruction Company (NARCL)!
Banking & Finance
Natarajan Sundar, a seasoned banking veteran who previously served as Deputy Managing Director at State Bank of India, is the second high-ranking official to resign from NARCL before completing the designated tenure. Last August, Karnam Sekar, the then Chairman of NARCL, also stepped down without providing a specific reason, leaving the organization amid uncertainty.Sundar had assumed the role of Managing Director on May 30, 2022, for a two-year term, similar to the tenure of his predecessor, Karnam Sekar. Both resignations occurred before completing the stipulated two-year period, raising questions about the stability and management structure of NARCL.
In a surprising turn of events, P Santhosh, Chief General Manager at Canara Bank, has been appointed as the Managing Director of National Asset Reconstruction Company (NARCL) with effect from January 5
Natarajan Sundar, who resigned from the post. This unexpected change in leadership at the government-promoted asset reconstruction organization has raised eyebrows within the industry.
Natarajan Sundar, a seasoned banking veteran who previously served as Deputy Managing Director at State Bank of India
Founder: Ammembal Subba Rao Pai
Founded: 1 July 1906, CEO: K. Satyanarayana Raju
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