In a major restructuring in the banking sector, Appointments Committee of the Cabinet (ACC), headed by Prime Minister Narendra Modi appointed heads of seven public sector banks. R Subramaniakumar, currently executive director of Indian Overseas Bank, was appointed as its MD and CEO.
Prior to joining IOB, Shri. R. Subramaniakumar was Executive Director of Indian Bank since 22nd January 2016. As Executive Director of Indian Bank, he was instrumental in bringing the business transformation with introduction of Retail, MSME & other business verticals. He spearheaded Digital Banking transformation with new products & services. Earlier, Shri. R. S. Kumar joined Punjab National Bank and served for more than three decades.
During his stint in Punjab National Bank, he lead the core banking implementation and technology initiatives of the Bank, along with BPR exercise, and lead the “Pragati” – transformation exercise across HR, Alternate Channel, Technology, Retail, MSME, New Business Initiatives , etc.