Bandhan Bank has received approval from the Reserve Bank of India (RBI) for the appointment of Mr. Debasish Panda as the Part-Time Chairman of the bank. The approval is valid for a period of three years from the date he assumes charge, subject to compliance with specified conditions.
Mr. Panda, a 1987 batch Indian Administrative Service (IAS) officer from the Uttar Pradesh cadre, is recognised for his leadership and policy reforms across various sectors. His career spans over three decades, during which he has contributed significantly to finance, insurance, public health, agriculture, law enforcement, and urban development.
As the former Chairman of the Insurance Regulatory and Development Authority of India (IRDAI) from 2022 to 2025, Mr. Panda spearheaded the initiative ‘Insurance for All by 2047’ and redefined regulatory frameworks to prioritise customer-centric governance. His tenure as Secretary of the Department of Financial Services (DFS) from 2020 to 2022 was marked by critical banking consolidations, promotion of financial inclusion, and management of COVID-19 financial responses.
Mr. Panda has also served as a Director on the Boards of several major financial institutions, including the Reserve Bank of India, State Bank of India, Bank of Baroda, and Life Insurance Corporation of India. His previous roles in the Government of Uttar Pradesh include introducing India’s largest emergency response system (Dial 112) and modernising urban governance in Greater Noida.
He holds advanced degrees from Utkal University, Jawaharlal Nehru University (JNU), and the Asian Institute of Management in Manila, and has completed international training in public administration.
The proposal for Mr. Panda’s appointment will be presented to the Nomination and Remuneration Committee (NRC) and the Board for consideration and approval in due course.
Disclaimer: This article is based on a regulatory filing submitted to the National Stock Exchange of India (NSE).