Government extends tenure of 3 executive directors of Canara Bank, Indian Overseas Bank

New Delhi: The government has extended the tenure of three executive directors of Canara Bank and Indian Overseas Bank for a period of two years, the lenders said on Monday. The tenure of executive directors Debashish Mukherjee and Matam Venkata Rao has been extended for two years, or until further orders, whichever is earlier beyond their currently notified terms which expire on February 18, 2021 and October 8, 2020, respectively, Canara Bank said in regulatory filings.

The extension has been given as per the notification of the Department of Financial Services, the Finance Ministry dated October 10, Canara Bank said.

Chennai-headquartered Indian Overseas Bank (IOB) in a separate filing said the government has extended the term of Ajay Kumar Srivastava as executive director for a period of two years beyond his currently notified term which expires on October 8, 2020, or until further orders, whichever is earlier.