Rakesh Sethi has become the new chairman and managing director of Allahabad Bank.
"Allahabad Bank has informed BSE that the Government of India...Have appointed Rakesh Sethi as Chairman and Managing Director of the Bank with effect from the date of his taking over the charge," it said in a regulatory filing.
It said Sethi will held the position up to April 30, 2017 -- the date of his superannuation or until further order, whichever is earlier.
Sethi's taking over as the CMD of the bank comes to effect from today, it added.
Allahabad Bank shares closed at Rs 82 apiece on the BSE today, down 1.68 per cent from the previous close.
