In terms of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, Indian Bank have to informed that in exercise of powers conferred by Section 9(3)(a) of the Banking Companies (Acquisition and Transfer of Undertakings) Act, 1970, the Central Government vide Notification No. eF.No. 4/6/2021-BO.I dated 03.05.2023 appointed Shri Ashutosh Choudhury, Chief General Manager (CGM), Punjab National Bank as Executive Director in Indian Bank for a period of three (03) years with effect from the date of assumption of office, or until further orders, whichever is earlier.

Accordingly, Shri Ashutosh Choudhury has assumed the office of Executive Director of the Bank on 03.05.2023. Shri Ashustosh Choudhury has assumed office as Executive Director of Indian Bank on 03rd May 2023. Shri Ashustosh Choudhury is an MBA professional and is also a Certified Associate of Indian Institute of Bankers.

He has rich banking experience of more than 2 decades. Prior to joining as Executive Director of Indian Bank, he was serving as Chief General Manager & Group CRO of Punjab National Bank. Shri Ashustosh Choudhury rose through ranks serving various offices of four Public Sector Banks viz.

Punjab National Bank, e-Oriental Bank of Commerce, e-United Bank of India and e-Allahabad Bank. His work experience includes working in Enterprise Risk Management, Strategic Planning, MSME & Retail Credit, Profit Centric Operations, Fintech & Digital Banking, Treasury, Corporate Credit, Micro Finance & Financial Inclusion, Balance Sheet Management. He has also completed Executive Leadership Development Programme of IIM Bangalore.

He has also served as Director in the Board of PNB Gilts, a subsidiary of PNB, functioning as Primary Dealer (PD) in Indian capital & debt market.