New Delhi, March 11, 2024: A seasoned banker, Shri A.S. Rajeev, has been appointed as a Vigilance Commissioner in the Central Vigilance Commission (CVC). The President of India approved his appointment on February 9, 2024.
Mr Rajeev brings a wealth of experience to the CVC, having served for over 38 years in the banking sector. During his tenure, he worked with four prominent banks: Syndicate Bank, Indian Bank, Vijaya Bank, and most recently, Bank of Maharashtra.
His leadership as Executive Director at Indian Bank played a pivotal role in transforming it into one of India’s most robust and profitable banks. Under his guidance, the bank achieved the commendable feat of having the lowest non-performing assets (NPAs) and the highest capital adequacy ratio.
Most recently, Mr. Rajeev served as the Managing Director and CEO of Bank of Maharashtra for five years. During this period, he spearheaded the bank’s successful emergence from the Reserve Bank of India’s Prompt Corrective Action (PCA) framework. He was instrumental in propelling the bank from a small-sized entity to a strong mid-sized player in the banking sector. His strategic direction positioned the Bank of Maharashtra as a top-performing Public Sector Bank (PSB) in terms of profitability, business parameters, and asset quality.
Mr. Rajeev’s experience extends beyond individual banks. He has served as a Nominee Director on the boards of prestigious institutions like EXIM Bank, New India Assurance Co. Ltd., and the National Payments Corporation of India (NPCI). He has also held leadership positions within industry associations, serving as Vice Chairman of the Indian Banks’ Association and as a member of the Reserve Bank of India’s Core Group for the implementation of Indian Accounting Standards.
The swearing-in ceremony for Mr. Rajeev was held on March 11, 2024. Senior officials from the Department of Personnel and Training (DoPT), Central Bureau of Investigation (CBI), Enforcement Directorate (ED), and the Central Vigilance Commission were present to witness this significant occasion.
The Central Vigilance Commission, established under the Central Vigilance Commission Act of 2003, plays a critical role in overseeing vigilance administration and promoting integrity in India’s central government organizations. The Act provides for the appointment of a Central Vigilance Commissioner and two Vigilance Commissioners. Mr. Rajeev’s term will last for four years or until he reaches the age of 65, whichever comes first.
