The MD and CEO of Allahabad Bank, Usha Ananthasubramanian, has been elected as the first woman chairman of the Indian Banks’ Association (IBA).
- The Managing Committee of the Indian Banks’ Association elected Usha as the Chairman for the year 2017-18.
- The position of IBA’s Chairman fell vacant after the superannuation of Jatinder Bir Singh, the Chairman and MD of the Punjab & Sind Bank. . Mrs. Subramanian is going to replace him who left the position on 31st December 2017.
- The Chairman of the State Bank of India, Rajnish Kumar was elected the Deputy Chairman of the IBA for the year 2017-18.
About IBA
- The Indian Banks’ Association is the banking sector’s industry body having the objective to promote as well as develop sound and progressive banking principles, practices and conventions and to contribute to the developments of creative banking in India.
- It is a representative body of management of banking in India operating in India - an association of Indian banks and financial institutions.
- It was formed on 26th September 1946 and has its head office in Mumbai, Maharashtra.
- At present, 237 banking companies are its members.
- Indian Banks' Association is managed by a managing committee, and the current managing committee consists of one chairman, 3 deputy chairmen, 1 honorary secretary and 26 members.
- IBA was formed for development, coordination and strengthening of Indian banking, and assist the member banks in various ways including implementation of new systems and adoption of standards among the members.
