SBI, LIC among key govt-run financial institutions set to see new faces

Partha Pratim Sengupta, MD and CEO of Indian Overseas Bank, retires on December 31, 2022

Major state-run financial-sector players like the country’s largest lender, State Bank of India (SBI), and the largest life insurer, Life Insurance Corporation (LIC), are likely to see a change of the guard at the top in 2023.

The first quarter of calendar 2023 will see new faces heading four large public-sector banks — Canara Bank, Bank of Baroda, Indian Overseas Bank, and Bank of India.

SBI Chairman Dinesh Khara’s term ends in early October. Khara had assumed charge as chairman in October 2020 with a three-year term. Before moving to the corner office, he was managing director (MD) with SBI.